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Michael Wolfe Allegedly Recommended Unsuitable Investments

Michael Wolfe (CRD #: 5729294), a broker registered with Equitable Advisors, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on February 23, 2024. Keep reading if you have questions regarding his alleged conduct. 

On November 27, 2023, an investor alleged that Michael Wolfe sold her securities that did not suit her investment goals. The dispute was denied, but investors should know that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration

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

Background Information 

Michael Wolfe has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 

He is a registered broker in ten states and D.C. 

During his 13 years of experience, Michael Wolfe has registered with two firms: Equitable Advisors (CRD #: 6627) and Voya Financial Advisors (CRD #: 2882). 

Kurta Law Can Help 

If you have worked with Michael Wolfe and have concerns about your investments, do not hesitate to contact us 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.