Panagiotis Ermogenous Subject of Investor Dispute

Panagiotis Ermogenous (CRD #: 5257901), a broker registered with Wells Fargo Clearing Services, was recently involved in an investor dispute, according to his BrokerCheck record, accessed on August 20, 2022. Read on if you want to know more about Panagiotis Ermogenous’s conduct as a broker.

Investor Disputes

On May 9, 2022, an investor filed a dispute against Panagiotis Ermogenous following the alleged poor performance of the client’s account. This dispute was settled for $60,000.

On March 9, 2020, an investor alleged that Panagiotis Ermogenous breached his contract and committed an unspecified violation of suitability. The client sought $249,281 in damages and received a settlement of $90,628.50.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile describes their age, risk tolerance, financial goals, and other relevant information. 

• Investments can be unsuitable because they are high risk and likely to lose money or because they lack liquidity and are difficult to sell without high fees, among other reasons.
• Trades can be quantitatively unsuitable, meaning that the broker executed an excessive number of trades. Excessive trading racks up fees and commissions that can significantly reduce an investor’s returns.
• Investment strategies can also be unsuitable. For instance, overconcentration of securities in a particular stock or sector may be unsuitable for investors with lower risk tolerance.

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

Background Information

Panagiotis Ermogenous 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 7 – General Securities Representative Examination

Panagiotis Ermogenous is a registered broker in 12 states and a registered investment adviser in New Jersey and New York.

He has also worked for the following firms:

• Wells Fargo Clearing Services (CRD#:19616)
• Citigroup Global Markets (CRD#:7059)
• Capital One Advisors (CRD#:136865)
• Capital One Investing (CRD#:45744)
• J.P. Morgan Securities (CRD#:79)
• Aegis Capital (CRD#:15007)
• Blackbook Capital (CRD#:123234)
• Alexander Capital (CRD#:40077)
• Brookstone Securities (CRD#:13366)
• Prestige Financial Center (CRD#:30407)
• Obsidian Financial Group (CRD#:104255)
• Westrock Advisors (CRD#:114338)

Kurta Law Can Help

If you worked with Panagiotis Ermogenous 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.