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Investor Alleges Mark Hales Recommended Unsuitable Investment

Feb 1, 2023 Unsuitable Investments

Mark Hales (CRD #: 1391514), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, allegedly gave an unsuitable investment recommendation, according to his BrokerCheck record, accessed on January 24, 2023. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

On November 22, 2022, an investor alleged that Mark Hales made an unsuitable investment recommendation in September 2022. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without allowing an external review. Investors may still be able to recoup their losses by seeking out FINRA arbitration 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 risk tolerance, tax status, and age.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.

Background Information

Mark Hales 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 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination

Mark Hales is a registered broker in 28 states, the District of Columbia, and Puerto Rico. He is also a registered investment adviser in California and Texas.

He previously worked for UBS Financial Services (CRD#:8174).

Kurta Law Can Help

If you worked with Mark Hales 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.