Neil Kitchie Subject of Unsuitable Investment Allegations
Neil Kitchie (CRD #: 1429945), a broker registered with LPL Financial, is facing an investor dispute. This is according to his BrokerCheck record, accessed on November 7, 2023. Keep reading if you have questions about his alleged conduct.
On September 27, 2023, an investor alleged that Neil Kitchie made unsuitable recommendations to purchase alternative investments. The investor is seeking $50,001.
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:
- Risk tolerance
- Time horizon (i.e., how long the investor plans to hold the investment)
- Investing experience
- Tax status
- Financial goals
Alternative investments are unsuitable for most investors because they come with a high risk for losses. Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.
Neil Kitchie 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 3 National Commodity Futures Examination
- Series 7 General Securities Representative Examination
- Series 24 General Securities Principal Examination
He is a registered broker in 28 states and is a registered investment adviser in Illinois and Texas.
Neil Kitchie has registered with the following firms:
- LPL Financial (CRD #: 6413)
- Responsible Investment Group (CRD #: 123683)
- Chase Manhattan Investment Services (CRD #: 25574)
- Prudential Securities Incorporated (CRD #: 7471)
Kurta Law Can Help
If you worked with Neil Kitchie and have concerns about your investments, please contact us today at 877-600-0098 or email@example.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want 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.