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Pedro Escobar Involved in a Half-Million Dollar Dispute

Pedro Escobar (CRD #: 2785268), a broker registered with Ameriprise Financial Services, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on December 15, 2022. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On November 11, 2022, an investor alleged Pedro Escobar made unsuitable investment recommendations. The client seeks $500,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. An investor’s profile contains the following client characteristics:

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

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

Background Information

Pedro Escobar has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Pedro Escobar is a registered broker and a registered investment adviser in Florida.

He has also worked for the following firms:

  • Wells Fargo Clearing Services (CRD#:19616)
  • SunTrust Investment Services (CRD#:17499)
  • Chase Investment Services CORP. (CRD#:25574)
  • Wachovia Securities (CRD#:19616)
  • First Union Brokerage Services (CRD#:8112)
  • GKN Securities (CRD#:19415)

Kurta Law Can Help

If you worked with Pedro Escobar 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. 

 

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