Michael Hebert Allegedly Recommended Unsuitable Investments

Michael Hebert (CRD #: 4659328), a broker registered with Commonwealth Financial Network, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on June 11, 2024. Keep reading if you have questions regarding his alleged conduct.

Investor Allegations 

On May 2, 2024, investors alleged that Michael Hebert recommended unsuitable investments. 

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.

High Standards of Commercial Honor 

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 this rule. 

Background Information 

Michael Hebert has passed the following exams: 

• 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 seven states and is a registered investment adviser in Louisiana. 

During his 20 years of experience, Michael Hebert has registered with three firms: 

• Commonwealth Financial Network (CRD #: 8032) 
• LPL Financial (CRD #: 6413) 
• Edward Jones (CRD #: 250) 

Kurta Law Can Help 

If you have worked with Michael Hebert and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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.