Patti Beckwith Involved in a Six-Figure Dispute

Patti Beckwith (CRD #: 1317644), a broker registered with Raymond James Financial Services, is the subject of an investor dispute. This is according to her BrokerCheck record, accessed on February 23, 2024. Details concerning this dispute are provided below. 

Unsuitable Investment Allegations

On November 29, 2023, an investor alleged that Patti Beckwith recommended unsuitable investments. The investor sought $200,000, but the dispute was denied by the firm. Investors should know, however, that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration. 

What Are Unsuitable Investments? 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Excessive trading, which violates the need for quantitative suitability. This means that the number of trades must suit an investor’s goals. Excessive trading is also known as “churning.” 
• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.

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

Background Information 

Patti Beckwith 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 
• Series 10 General Securities Sales Supervisor – General Module Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 

She is a registered broker in 17 states and is a registered investment adviser in Florida, Massachusetts, and Texas. 

During her 39 years of experience, Patti Beckwith has registered with the following four firms:

• Raymond James Financial Services (CRD #: 6694) 
• Raymond James Financial Services Advisors (CRD #: 149018) 
• Robert Thomas Securities (CRD #: 10147) 
• Invest Financial Corporation (CRD #: 12984)  

Kurta Law Can Help 

If you have worked with Patti Beckwith and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.