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Manuel Collazo Racks up 14th Investor Dispute

Apr 29, 2022 Unsuitable Investments

Manuel Collazo (CRD #:1563227), a broker registered with Insigneo Securities, is involved in his 14th investor dispute, according to his BrokerCheck record, accessed on January 27, 2022. He is also an investment advisor registered with Insigneo Advisory Services.

Keep reading for more details.

Investor Allegations

Between 2018 and 2022, Manuel Collazo was involved in 14 investor disputes, each alleging he recommended Puerto Rico-based investments, closed-end funds, and bonds. The majority of the investors alleged that these funds were unsuitable and over-concentrated. Other allegations include failure to supervise, scienter, aiding and abetting, fraudulent concealment, violations of securities laws and rules, fraud, recklessness, negligence, breach of fiduciary duties, and Puerto Rico contract law violations.

Pending Dispute

One dispute is still pending. The investor is seeking to recover $143,990.

Settled Disputes

Thirteen disputes have since been settled. These disputes collectively settled for $2,360,000.

Puerto Rico Securities

Puerto Rico's financial woes have been well-documented. The country only recently exited bankruptcy, and many investors have lost money on Puerto Rico bonds. 

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor's profile. An investor's profile includes information about their risk tolerance, financial goals, and age. Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

  • Investments can be unsuitable because they are high risk and likely to lose money.
  • Securities may also be unsuitable because they are illiquid, meaning they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
  • Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
  • These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.

Background Information

Manuel Collazo has passed the following exams:

  • Series 66 - Uniform Combined State Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination

Manuel Collazo is a registered broker in Florida, New York, and Puerto Rico. He is also a registered investment advisor in Puerto Rico and Florida. 

Manuel Collazo has also worked with the following firms: 

  • Insigneo Wealth Advisors (CRD#:112706)
  • Santander Securities (CRD#:41791)
  • Citigroup Global Markets (CRD#:7059)
  • Lehman Brothers (CRD#:7506)
  • Drexel Burnham Lambert Incorporated (CRD#:7323)

Kurta Law Can Help

If you suffered losses after working with Manuel Collazo, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.