Patrick Gorand (CRD #5559541) Has a Customer Dispute Disclosure on FINRA BrokerCheck

Patrick Gorand (CRD #5559541) is currently registered with J.P. Morgan Securities LLC. We reviewed his BrokerCheck report on April 20, 2026. It reflects one customer dispute disclosure. If you invested with Patrick Gorand and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Patrick Gorand’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On February 17, 2026, a customer alleged Patrick Gorand made unsuitable investment recommendations involving a limited partnership. Patrick Gorand FINRA BrokerCheck Report lists the activity dates as November 2018 through November 2019 and the claimed damages as $1,000,000. The matter is pending in FINRA arbitration under docket number 26-00354. Gorand denied the allegations and said he intends to defend the claim.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a broker to have a reasonable basis to believe a recommendation fits the customer’s investment profile. When a claim alleges unsuitable recommendations, this rule often matters because it focuses on risk tolerance, objectives, liquidity needs, and similar factors.

Rule Summary #2: FINRA Rule 2090 (Know Your Customer)

FINRA Rule 2090 requires firms and brokers to use reasonable diligence to know the essential facts about each customer. Those facts help shape suitable recommendations and can matter when an investor says a product did not fit the account.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Patrick Gorand:

Is currently registered with J.P. Morgan Securities LLC.

Has passed the Securities Industry Essentials (SIE) exam. Patrick Gorand has also passed Series 7, Series 65, and Series 66.

Was previously registered with Wells Fargo Advisors, LLC.

Kurta Law Can Help

If you worked with Patrick Gorand and have concerns about activity in your account, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Unsuitable Investments

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.