Rene Castro Allegedly Recommended Unsuitable Investments

Rene Castro (CRD #: 2559410), a broker registered with Great Point Capital, allegedly gave unsuitable investment recommendations, according to her BrokerCheck record, accessed on March 14, 2023. Investors may have also engaged her services through Retirement Wealth Management. If you want to know more about her alleged conduct as a broker, read on.

Investor Disputes

On February 14, 2023, an investor filed a dispute alleging that Rene Castro made unsuitable investment recommendations. The client seeks $250,000 in damages in this pending dispute.

On September 6, 2022, an investor named Rene Castro and three other brokers in a pending dispute that made undisclosed allegations. They seek $100,000 in damages in relation to Rene Castro’s alleged misconduct.

In a dispute filed June 2, 2022, an investor alleged Rene Castro violated the suitability rule, engaged in negligence, breached her contract, and violated California securities statutes with regard to the sale of GWG bonds. The client sought $151,000 and received a settlement of $175,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles, which describe investor characteristics, such as their tax status, risk tolerance, and age.

Investors who rely on brokers for investment recommendations can potentially recover their losses by seeking out FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

What qualifies as broker negligence?

Many types of broker misconduct may qualify as negligence. Common examples include unsuitable investment recommendations, misrepresentations or omissions of fact, and failure to supervise other brokers.

Investors who have lost money through broker negligence may be able to recover their funds by pursuing FINRA arbitration.

Background Information

Rene Castro has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• Series 6TO – Investment Company Products/Variable Contracts Representative Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Rene Castro is a registered broker in eight states and a registered investment adviser in California.

She has also worked for the following firms:

• Center Street Advisors (CRD#:169329)
• Center Street Securities (CRD#:26898)
• VFG Advisors (CRD#:150370)
• VFG Securities (CRD#:15121)
• Concorde Asset Management (CRD#:140367)
• Concorde Investment Services (CRD#:151604)
• United Financial Solutions (CRD#:148877)
• Centaurus Financial (CRD#:30833)
• Brewer Investment Advisors (CRD#:134631)
• Brewer Financial Services (CRD#:132558)
• United Financial Solutions (CRD#:148877)
• PEAK Securities (CRD#:107907)
• InterSecurities (CRD#:16164)
• Morgan Peabody (CRD#:38306)
• Securities America (CRD#:10205)
• Legacy Advisory Services (CRD#:111027)
• Legacy Financial Services (CRD#:38697)
• Pruco Securities (CRD#:5685)

Kurta Law Can Help

If you worked with Rene Castro 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.