Markus Byrd Allegedly Violated FINRA Rule 2111

Markus Byrd (CRD #: 2177376), a broker registered with Kestra Investment Services, is the subject of an investor dispute, according to his BrokerCheck record, accessed on August 2, 2023. 

On April 28, 2023, investors alleged that Markus Byrd recommended the sale of unsuitable investments. Keep reading for more information on suitability. 

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. 

Some common violations of this rule include:

• Recommendations of high-risk or illiquid investments. These investments may lead to losses or high fees for the investor.
• Excessive trading, which violates the need for quantitative suitability. This means that overall trading activity must also suit an investor’s goals.
• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their funds by seeking out FINRA arbitration.

Background Information 

Markus Byrd 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 7 General Securities Representative Examination 
• Series 51 Municipal Fund Securities Principal Examination 
• Series 24 General Securities Principal Examination 

He is a registered broker in 12 states and is a registered investment adviser in Texas. 

Markus Byrd has registered with the following firms: 

• NFP Advisor Services (CRD #: 42046) 
• Invest Financial Corporation (CRD #: 12984) 
• Ameriprise Financial Services (CRD #: 6363) 
• Invest Financial Corporation (CRD #: 12984)
• Veravest Investment Advisors (CRD #: 105796) 
• Veravest Investments (CRD #: 3960) 
• IDS Life Insurance Company (CRD #: 6321) 

Kurta Law Can Help

If you worked with Markus Byrd 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.