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Nicholas Dennie Allegedly Made Unsuitable Mutual Fund Purchases

Nicholas Dennie (CRD #: 5638224), a broker registered with Edward Jones, allegedly made unsuitable purchases for a client, according to his BrokerCheck record, accessed on May 25, 2023. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On March 26, 2023, an investor filed a dispute alleging that Nicholas Dennie made unsuitable purchases of The Income Fund of America, a mutual fund. This dispute was denied by the firm.

However, investors should know that firms can deny a dispute without an outside review. Investors may be able to recoup their losses by pursuing FINRA arbitration following a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles describe investor characteristics, including the following: 

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.

Background Information

Nicholas Dennie has passed the following exams:

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

Nicholas Dennie is a registered broker in nine states and a registered investment adviser in Iowa.

Kurta Law Can Help

If you worked with Nicholas Dennie 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 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.

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