Raul Benitez is the Subject of a Suitability Dispute

Raul Benitez (CRD #: 4457185), a previously registered broker with Wells Fargo Clearing Services, is the subject of an investor dispute. This dispute appears on his BrokerCheck record, accessed on December 21, 2023. Keep reading if you have questions regarding his conduct as a broker. 

On November 7, 2023, an investor alleged that Raul Benitez recommended unsuitable investments. The investor is seeking $500,000. 

On July 6, 2021, an investor alleged that Raul Benitez recommended an unsuitable investment. The investor sought $218,707 and the dispute settled for $175,000. 

Another suitability dispute on his record settled for $137,500. 

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 

Raul Benitez has passed the following exams: 

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

During his 20 years of experience, he has registered with 20 firms. These are the five most recent:

• Wells Fargo Clearing Services (CRD #: 19616) 
• Suntrust Investment Services (CRD #: 17499) 
• LPL Financial (CRD #: 6413) 
• JP Morgan Securities (CRD #: 79) 
• Chase Investment Services Corp (CRD #: 25574) 

Kurta Law Can Help 

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