Did Milton Tanaka Recommend Unsuitable Investments?
Milton Tanaka (CRD #: 2499204), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is facing a new investor dispute, according to his BrokerCheck record, accessed on May 25, 2022. If you have concerns about his conduct as a broker, keep reading.
On February 14, 2022, an investor alleged that Milton Tanaka recommended unsuitable investments from 2014 until 2022. The dispute was denied by the firm, but investors should know that they can recover their losses following a denial.
What is an Unsuitable Investment?
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:
- Financial goals
- Risk tolerance
- Time horizon (i.e., how long the investor plans to hold the investment)
- Investing experience
- Tax status
Milton Tanaka 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 31 Futures Managed Funds Examination
- Series 7 General Securities Representative Examination
He is a registered broker in 17 states and is a registered investment adviser in Hawaii and Texas.
Milton Tanaka has registered with the following firms:
- Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
- Morgan Stanley Smith Barney (CRD #: 149777)
- CitiGroup Global Markets (CRD #: 7059)
- Morgan Stanley DW Inc. (CRD #: 7556)
Kurta Law Can Help
If you worked with Milton Tanaka and have concerns about your investments, please contact us today at 877-600-0098 or email@example.com for a free consultation.
For nearly 20 years, Kurta Law has advocated on behalf of investors recovering their investment losses from stockbrokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors. We work on a contingency basis, which means that the firm only earns a fee if our securities attorneys recover money on your behalf. Reach out and we can tell you what steps to take to restore your lost funds.