Mary Murphy’s Advice Allegedly Resulted in Losses for Client

Mary Murphy (CRD #: 5256679), a broker formerly registered with Charles Schwab & Company, is the subject of a pending dispute, according to her BrokerCheck record, accessed on February 22, 2023. If you want to know more about her alleged conduct as a broker, read on.

Investor Dispute

On December 23, 2022, an investor alleged that Mary Murphy gave poor investment advice between approximately September 2021 and July 2022, resulting in losses. The client further alleged that Mary Murphy offered to reimburse these losses in various ways.

The client seeks $350,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must take into account the information contained in an investor’s profile, such as their age, tax status, and financial goals.

Investors who rely on brokers for investment recommendations can seek out 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

Mary Murphy has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 10 – General Securities Sales Supervisor – General Module Examination
• Series 9 – General Securities Sales Supervisor – Options Module Examination

She previously worked for the following firms:

• Charles Schwab & Company (CRD#:5393)
• MML Investors Services (CRD#:10409)
• UBS Financial Services (CRD#:8174)

Kurta Law Can Help

If you worked with Mary Murphy 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.