Robert Knutson Embroiled in a $44 Million Dispute

Robert Knutson (CRD #: 272788), a broker previously registered with Morgan Stanley, is the subject of investor allegations. This is according to his BrokerCheck record, accessed on August 9, 2023. Details are provided below. 

On July 11, 2023, investors alleged that Robert Knutson engaged in excessive trading from 2013 to 2022. Excessive trading is a type of unsuitable trading that violates FINRA Rule 2111. 

The investor is seeking $44,015,038. 

There are two other customer disputes and two regulatory actions on his record. 

FINRA Rule 2111 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Excessive trading, which violates the need for quantitative suitability. Quantitative suitability means that the number of trades must suit an investor’s goals.
• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to losses or high fees for the investor.

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

Background Information 

Robert Knutson has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 7TO General Securities Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 5 Interest Rate Options Examination 
• Series 000 General Securities Principal Examination 
• Series 1 Registered Representative Examination 
• Series 53 Municipal Securities Principal Examination 
• Series 24 General Securities Principal Examination 
• Series 4 Registered Options Principal Examination 
• Series 12 NYSE Branch Manager Examination 

Robert Knutson has registered with the following firms: 

• Morgan Stanley (CRD #: 149777)
• UBS Financial Services (CRD #: 8174) 
• Shearson Lehman Hutton (CRD #: 7506) 
• E.F. Hutton & Company (CRD #: 235) 
• Piper, Jaffray & Hopwood Incorporated (CRD #: 665) 
• Paine, Webber, Jackson & Curtis Incorporated (CRD #: 640) 

Kurta Law Can Help

If you worked with Robert Knutson 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.