Matthew Wilkes is the Subject of Unsuitable Insurance Recommendation Allegations

Matthew Wilkes (CRD #: 5409004), a broker registered with TrustFirst, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on February 9, 2024. Details concerning this disclosure are provided below. 

Investor Disputes

On February 9, 2024, an investor alleged that Matthew Wilkes recommended an unsuitable Premium-financed life insurance policy and failed to properly explain its risks. They further alleged he later made an unsuitable recommendation to change insurance provider. The investor is seeking $2,680,220.14. 

There were similar allegations filed on January 12, 2024. The investor in this case is seeking $4.1 million.

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 2111 also violate FINRA Rule 2111. 

Background Information 

Matthew Wilkes 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 6 Investment Company Products/Variable Contracts Representative Examination 
• Series 24 General Securities Representative Examination 

During his 15 years of experience, Matthew Wilkes has registered with seven firms: 

• TrustFirst (CRD #: 39057) 
• FSIC (CRD #: 37813) 
• Raymond James Financial Services (CRD #: 6694) 
• Wells Fargo Advisors (CRD #: 19616) 
• PNC Investments (CRD #: 129052) 
• NatCity Investments (CRD #: 17490) 
• Chase Investment Services Corp (CRD #: 25574) 

Kurta Law Can Help 

If you have worked with Matthew Wilkes and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.