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Nathan MacDonald Involved in Unsuitability Dispute

Mar 11, 2022 Unsuitable Investments

Nathan MacDonald (CRD #: 2250393), a broker and investment advisor registered with Cetera Advisors, was involved in an unsuitability dispute, according to his BrokerCheck record, accessed on February 20, 2022.

According to the allegations filed on November 30, 2021, Nathan MacDonald did not properly discuss a diversified portfolio and recommended unsuitable alternative investments. These allegedly included REITs and private placement investments. The investor is seeking $100,000一the case is still pending.

FINRA Rule 2111

A broker must have exercised due diligence and have an adequate reason for believing that an investment will be suitable or beneficial for the investor. 

Financial advisors must consider the factors listed below when providing advice to investors. 

  • The investor's current financial state
  • The investor's goals for investing and what the investor hopes to achieve;
  • How long it will take for them or their money if they require a return on investment
  • The investor's tolerance risk.

According to FINRA Rule 2111, financial advisors may be liable for investor unsuitability claims if they fail to take the four factors listed above into account and recommend investments that are not suitable.

Make sure you are not being taken advantage of by contacting the securities attorneys at Kurta Law if you are considering any legal action against a broker. 

Background Information

Nathan MacDonald has passed the following exams:

  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination

Nathan MacDonald is a registered broker in seven states. He is also a registered investment advisor in Maine.

Besides Cetera Advisors, Nathan MacDonald has also worked with the following firms:

  • Investors Capital Advisory (CRD#:30613)
  • Investors Capital Corp. (CRD#:30613)
  • Eastern Point Advisors (CRD#:107123)
  • FFP Securities (CRD#:16337)
  • Metlife Securities (CRD#:14251)
  • Metropolitan Life Insurance Company (CRD#:4095)

Kurta Law Can Help

If you have worked with Nathan MacDonald and have concerns about your investments, don't hesitate to contact us today 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 and 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.