Marc Laborde Allegedly Misrepresented Unsuitable Options Overlay Strategies

Marc Laborde (CRD #: 4975479), a broker registered with Rockefeller Financial, is the subject of a pending dispute, according to his BrokerCheck record, accessed on October 9, 2022. Investors may have also worked with him through Rockefeller Capital Management. If you want to learn more about Marc Laborde’s conduct as a broker, read on.

Investor Disputes

On July 21, 2022, an investor filed a dispute alleging that, between 2017 and May 2019, Marc Laborde made misrepresentations and unsuitable recommendations to invest in and hold an options overlay strategy. This dispute is currently pending.

Seven disputes, filed from 2020-2021, similarly alleged unsuitability and misrepresentation concerning Marc Laborde’s recommendations to invest in and hold options overlay strategies during a collective timeframe of 2016-2019. These disputes were settled for a total of $8,331,222.33.

On November 4, 2020, an investor alleged that Marc Laborde recommended an unsuitable options overlay strategy. The client further alleged that this strategy was a conflict of interest and that Marc Laborde failed to disclose its associated risks. The investor alleged these violations occurred between August 1, 2016, and June 20, 2019. The client sought $1,775,430.13 in damages but the dispute was denied by the firm.

Another denied dispute, filed on April 7, 2020, alleged that Marc Laborde and other brokers invested the client’s funds in a “super high-risk” strategy and failed to disclose the risks associated with it between December 30, 2016, and June 20, 2019.

However, investors should be aware that firms can deny disputes without permitting an external review. Investors can still pursue FINRA arbitration and potentially recoup their losses after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. An investor’s profile includes information about their age, risk tolerance, and investment goals.

Investors who rely on their brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

FINRA Rule 2020

Misrepresentation of investments violates FINRA Rule 2020, which prohibits the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities.

Background Information

Marc Laborde has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Marc Laborde is a registered broker in 24 states, Puerto Rico, and the District of Columbia. He is also a registered investment adviser in Texas.

He has also worked for UBS Financial Services (CRD#:8174) and Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691).

Kurta Law Can Help

If you worked with Marc Laborde and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want 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.