Mark Hegstrom Allegedly Recommended Unsuitable Investments

Mark Hegstrom (CRD #: 4289931), a broker registered with LPL Financial, is the subject of an investor dispute. This is according to his Brokercheck record, accessed on April 3, 2024. Keep reading if you have questions regarding these allegations. 

Investor Dispute

On January 24, 2024, an investor alleged that Mark Hegstrom recommended investments that were unsuitable in light of the customer’s investment objectives and risk tolerance. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains 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

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Unsuitable investments violate this rule. 

Background Information 

Mark Hegstrom 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 

He is a registered broker in 29 states. He is also a registered investment adviser in Florida, Minnesota, and Texas.

Mark Hegstrom has registered with the following firms: 

• LPL Financial (CRD #: 6413) 
• Great Valley Advisory Group (CRD #: 123913) 
• UBS Financial Services (CRD #: 8174)
• ING Financial Partners (CRD #: 2882) 
• Locust Street Securities (CRD #: 1703) 

Kurta Law Can Help 

If you have worked with Mark Hegstrom and have concerns about your investments, do not hesitate to contact us 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 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.