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Mark Bushkin Allegedly Recommened Unsuitable Investments

Mark Bushkin (CRD #: 2051696), a broker registered with Avantax Investment Services, is facing an investor dispute, according to his BrokerCheck record, accessed on August 11, 2023. Keep reading for more detail. 

On May 6, 2023, investors alleged that Mark Bushkin recommended unsuitable investments. The investors further alleged that Mark Bushkin earned high commissions and that the investments resulted in 1099 capital basis issues. The investor is seeking $60,000. 

According to allegations filed on January 31, 2022, investors alleged that Mark Bushkin did not obtain their approval before investing. The investors sought $100,000 and the dispute settled for $53, 561.73. 

FINRA 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the information contained in an investor’s profile, such as their tax status, risk tolerance, and overall financial situation. High commissions for brokers can cut into returns for investors. 

FINRA Rule 3260

FINRA Rule 3260 limits brokers trading discretion to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm.

Background Information 

Mark Bushkin has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 22 Direct Participation Programs Representative Examination 
  • Series 62 Corporate Securities Limited Representative Examination 
  • Series 52 Municipal Securities Representative Examination 
  • Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in 13 states and is a registered investment adviser in Florida. 

Mark Bushkin has registered with Avantax Advisory Services (CRD #: 104556)

Kurta Law Can Help

If you worked with Mark Bushkin and you have concerns about your investments, please contact us today at 877-600-0098 or 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.