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Paul Addo Facing a Suitability Dispute

Paul Addo (CRD #: 5422664), a broker registered with UBS Financial Services, is the subject of an investor dispute, according to his BrokerCheck record, accessed on August 9, 2023. Keep reading if you have concerns about his conduct as a broker. 

On July 13, 2023, an investor alleged that Paul Addo recommended unsuitable investments and engaged in unauthorized trading in March 2020. 

FINRA Rule 3260

Unauthorized trading violates FINRA Rule 3260, which limits brokers to exercising their trading discretion in pre-approved discretionary accounts.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. 

  • Investments can be unsuitable because they are high risk and likely to lose money.
  • Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
  • Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
  • These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

Background Information 

Paul Addo has passed the following exams: 

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

He is a registered broker in 14 states and is a registered investment adviser in Colorado and Texas. 

Paul Addo has worked with the following firms: 

  • UBS Financial Services 
  • Merrill Lynch, Pierce, Fenner and Smith Incorporated (CRD #: 7691) 

Kurta Law Can Help

If you worked with Paul Addo 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.