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Matthew Johnston Allegedly Sold Unsuitable Annuity

May 20, 2022 Unsuitable Investments

Matthew Johnston (CRD #: 6388029), a broker registered with Equitable Advisors, was involved in a recent investor dispute, according to his BrokerCheck record, accessed on May 13, 2022. Keep reading if you want to learn more about Matthew Johnston’s conduct as a broker.

Investor Dispute

On March 14, 2022, an investor filed a dispute alleging Matthew Johnston sold them an unsuitable annuity in 2021. The firm denied this dispute.

However, investors should know that firms can deny disputes without any external investigation, and investors can still pursue FINRA arbitration to recover their losses following a denial.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers recommend investments that suit investors’ profiles. Brokers must take into consideration the information in these profiles, such as clients’ age, tax status, and other investments.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their lost funds by seeking FINRA arbitration.

Background Information

Matthew Johnston has passed the following exams:

  • Series 66 - Uniform Combined State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 24 - General Securities Principal Examination

Matthew Johnston is a registered broker in six states and a registered investment adviser in five states.

Kurta Law Can Help

If you worked with Matthew Johnston 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.