Max Birkinbine Allegedly Engaged in Negligence

Max Birkinbine (CRD #: 6836583), a broker registered with Ausdal Financial Partners, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on April 4, 2024. Details concerning this dispute are provided below. 

Investor Allegations 

On March 1, 2024, an investor alleged that Max Birkinbine engaged in negligent supervision and violated the Minnesota Uniform Securities Act. These allegations involved investments in Bakkan and GWG L Bonds. The investor is seeking $120,000. 

On January 19, 2024, an investor alleged that Max Birkinbine recommended unsuitable investments and violated Regulation Best Interest. The investor is seeking $85,000. 

Negligence

Many types of broker misconduct may qualify as negligence. Typical examples include unsuitable investment recommendations, misrepresentations or omissions of material fact, and failure to follow instructions.

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information 

Max Birkinbine 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 

He is a registered broker in 12 states and is a registered investment adviser in Minnesota and New York. 

Kurta Law Can Help 

If you have worked with Max Birkinbine and 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.