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Nicholas Conturso Facing Unsuitable Recommendation Allegations

Nicholas Conturso (CRD #: 3037632) is the subject of an investor dispute, according to his BrokerCheck record, accessed on September 8, 2023. Keep reading if you have questions about his alleged conduct. 

On August 24, 2023, investors alleged that Nicholas Conturso recommended an unsuitable hedge fund investment. Hedge funds are actively managed pooled investments. They can come with high fees and are not suitable for many investors. The investor is seeking $75,000. 

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

Investments that do not fit the criteria established by the investor profile may be unsuitable. Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information 

Nicholas Conturso has passed the following exams: 

  • Series 66 Uniform Combined 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 31 states and D.C. He is also a registered investment adviser in New Jersey and Texas. 

Nicholas Conturso has registered with the following firms: 

  • Morgan Stanley (CRD #: 149777) 
  • CitiGroup Global Markets (CRD #: 7059) 

Kurta Law Can Help

If you worked with Nicholas Conturso and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.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. The firm only earns a fee if our securities attorneys recover money on your behalf.

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