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Marcial Vargas Allegedly Recommended Unsuitable Investments

Marcial Vargas (CRD #: 5953263), a broker registered with Ameriprise Financial Services, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on October 14, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On July 4, 2024, an investor alleged that Marcial Vargas breached his fiduciary duty by recommending unsuitable investments and misrepresenting the nature of those investments. 

What is an Unsuitable Investment? 

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. 

Rule 2111 also requires brokers to consider the following investor characteristics: 

  • Age
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status
  • Financial goals

Investments that do not fit the criteria established by the investor profile may be unsuitable. Investors who rely on brokers for recommendations may recover their losses by pursuing FINRA arbitration.

Kurta Law Can Help 

If you worked with Marcial Vargas and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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 that 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. Do not let securities fraud go unchecked. Start your recovery process today.

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