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Investors Settle Disputes Against Mark Kolta for Over $15 Million

Apr 6, 2022 REITs

Mark Kolta (CRD #: 5324620), a broker previously registered with Worden Capital Management LLC, is facing new allegations of unsuitable investment recommendations after previous disputes settled for a total of over $15 million. This information is from Mark Kolta’s BrokerCheck record, accessed on March 26, 2022. You can find more information below about Mark Kolta’s conduct as a broker.

Unsuitable Investment Allegations

On February 9, 2022, an investor alleged that Mark Kolta recommended unsuitable illiquid REITs. The investor is seeking $239,000; the dispute is pending.

What is a REIT?

A Real Estate Investment Trust (REIT) is a real estate investment that comprises a selection of income-producing real estate. These investments can be high-risk, especially if they are non-traded.

Settled Allegations

There are 22 settled investor disputes from 2019 through 2021 that allege Mark Kolta recommended unsuitable investments. These disputes collectively settled for approximately $15,970,701.75.

What is an Unsuitable Investment?

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

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

Background Information

Mark Kolta has passed the following exams:

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

He has worked for the following firms:

  • Worden Capital Management LLC (CRD #: 148366)
  • Aegis Capital Corp. (CRD #: 15007)
  • National Securities Corporation (CRD #: 7569)
  • Cetera Advisors LLC (CRD #: 10299)
  • Chase Investment Services Corp. (CRD #: 25574)
  • Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #: 7691)

Kurta Law Can Help

If you worked with Mark Kolta and 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. 

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