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Michael Quirk is Involved in a Half-Million Non-Traded REIT Dispute

Michael Quirk (CRD #: 6123168), a broker registered with Cambridge Investment Research, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on December 5, 2023. Keep reading if you have concerns regarding his alleged conduct. 

On September 22, 2023, an investor named Michael Quirk in an investment involving an unsuitable non-traded Real Estate Investment Trusts. The investor is seeking $500,000. 

Non-Traded REITs

Real estate investment trusts (REITs) allow investors to pool their funds together in a portfolio of real estate and earn returns without managing the properties themselves. However, the lack of liquidity associated with REITs may make them unsuitable for some investors. Non-traded REITs do not trade on the public exchange, making them particularly risky. 

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. Brokers must also consider the investment time horizon and the investor’s liquidity needs. Investments that do not take these factors into account may be unsuitable. 

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

Background Information 

Michael Quirk 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 

He is a registered broker in 33 states and is a registered investment adviser in Massachusetts, Rhode Island, and Texas. 

Kurta Law Can Help 

If you have worked with Michael Quirk and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or 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.