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Paul Meaney Allegedly Recommended Unsuitable Oil & Gas Investment 

Paul Meaney (CRD #: 1448237), a broker registered with Lincoln Financial Advisors, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on February 22, 2023. If you want to know more about his alleged conduct as a broker, read on.

Investor Disputes

On January 3, 2023, several investors alleged that Paul Meaney gave an unsuitable recommendation of an oil and gas investment. They seek $60,000 in damages in this pending dispute.

In a dispute filed on October 26, 2018, an investor alleged that Paul Meaney sold them an unsuitable real estate investment trust (REIT) in December 2015. This dispute was denied by the firm.

Investors should know, however, that firms can deny disputes without an outside review. Investors may be able to recover their funds by seeking out FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the investor’s profile, which describes their tax status, risk tolerance, age, and other information.

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

What is a real estate investment trust?

A real estate investment trust (REIT) allows investors to pool their funds together in a real estate portfolio and earn returns without taking on the responsibility for maintaining the properties. However, the illiquid nature of REITs may make them unsuitable for some investors.

Background Information

Paul Meaney 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 24 – General Securities Principal Examination

Paul Meaney is a registered broker in 13 states and a registered investment adviser in Massachusetts.

He has also worked for Ameriprise Financial Services (CRD#:6363) and IDS Life Insurance Company (CRD#:6321).

Kurta Law Can Help

If you worked with Paul Meaney 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.