Investor Alleges Nicholas Ellis Misrepresented Unsuitable Investments

Nicholas Ellis (CRD #: 1082891), a broker registered with Kestra Investment Services, allegedly misrepresented investments, according to his BrokerCheck record, accessed on March 26, 2025. Investors may have also engaged his services through Kestra Advisory Services. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On February 12, 2025, an investor filed a dispute alleging that Nicholas Ellis made unsuitable recommendations of illiquid investments in November 2020. They further allege that he misrepresented these investments. The client seeks $70,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must use the information in an investor’s profile, such as their tax status, risk tolerance, and investing experience when making recommendations.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. The misrepresentation or omission of material facts violates this rule.

Background Information

Nicholas Ellis has passed the following exams:

• General Securities Principal Examination – Series 24
• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Securities Agent State Law Examination – Series 63

Nicholas Ellis is a registered broker in 12 states and a registered investment adviser in California.

He has also worked for the following firms:

• Centaurus Financial (CRD#:30833)
• Standard Investment Chartered (CRD#:23505)
• Robert Scott Securities (CRD#:28180)
• Corporate Benefit Securities (CRD#:13975)
• Titan/Value Equities Group (CRD#:6359)

Kurta Law Can Help

If you worked with Nicholas Ellis 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. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.