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Plato Guerre Allegedly Recommended an Unsuitable Investment 

Aug 11, 2023 Unsuitable Investments

Plato Guerre (CRD #: 4504920), a broker registered with Sagepoint Financial, is facing an investor dispute. This is according to his BrokerCheck record, accessed on August 11, 2023. Details are provided below. 

On May 4, 2023, an investor alleged that Plato Guerre recommended unsuitable investment advice. The client further alleged the broker did not follow specific instructions. The investor is seeking $85,000. 

What is an Unsuitable Investment?

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

FINRA Rule 3260

FINRA Rule 3260 limits brokers trading discretion to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm.

Background Information 

Plato Guerre 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 
  • Series 6 Investment Company Products/ Variable Contracts Representative Examination 

He is a registered broker in 18 states and an investment adviser in California and Texas. 

Aside from Sagepoint Financial (CRD #: 133763), Plato Guerre has also registered with SunAmerica Securities (CRD #: 20068). 

Kurta Law Can Help

If you worked with Plato Guerre and you have concerns about your investments, please contact us today at 877-600-0098 or 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.