Mark Sullivan Allegedly Chose Unsuitable Investment for Client

Mark Sullivan (CRD #: 5143963), a broker registered with Wells Fargo Clearing Services, was recently involved in an investor dispute, according to his BrokerCheck record, accessed on January 18, 2023. If you want to know more about his alleged conduct as a broker, read on.

Investor Dispute

On December 7, 2022, an investor alleged that they requested Mark Sullivan invest them in a “safe” investment, but the chosen investment later declined in value between July 26, 2022, and the date of dispute filing. This dispute was denied by the firm.

However, investors should know that firms don’t need to allow an external review before denying a dispute. Investors can still seek out FINRA arbitration following a denial and may be able to recover their losses.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the information contained in an investor’s profile, such as their tax status, age, and risk tolerance.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Mark Sullivan 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 Sullivan is a registered broker in 18 states and a registered investment adviser in Washington.

He has also worked for the following firms:

• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
• Morgan Stanley Smith Barney (CRD#:149777)
• Citigroup Global Markets (CRD#:7059)

Kurta Law Can Help

If you worked with Mark Sullivan and you 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.