Paul Vanecek Allegedly Recommended Unsuitable Investments

Paul Vanecek (CRD #: 3267746), a broker registered with LPL Financial, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on July 30, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On May 2, 2024, an investor alleged that Paul Vanecek recommended investments that were unsuitable for their investment objectives and risk tolerance. These recommendations allegedly took place from 2014 through 2016. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

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

Background Information 

Paul Vanecek has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 6 Investment Company Products/ Variable Contracts Representative Examination 

He is a registered broker in 22 states and is a registered investment adviser in Illinois and Texas. 

During his 23 years of experience, Paul Vanecek has registered with five firms: 

• LPL Financial (CRD #: 6413) 
• US Bancorp Investments (CRD #: 17868) 
• Charter One Securities (CRD #: 13373) 
• ABN Amro Financial Services (CRD #: 20373) 
• Investors Capital Corp (CRD #: 30613) 

Kurta Law Can Help 

If you have worked with Paul Vanecek and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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.