Robert Outtrim Allegedly Misrepresented Unsuitable Investments

Robert Outtrim (CRD #: 830045), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is the subject of an investor dispute. This is according to his BrokerCheck record. Details concerning this dispute are provided below. 

Investor Allegations

On February 29, 2024, an investor alleged that Robert Outtrim misrepresented unsuitable investments from 1995 to 2020. 

Unsuitable Investments 

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. This means that the number of trades must suit an investor’s goals. Excessive trading is also known as “churning.” 
• 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 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 Outtrim has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 31 Futures Managed Funds Examination 
• PC – AMEX Put and Call Exam 
• Series 7 General Securities Representative Examination 

He is a registered broker in 32 states and D.C. He is a registered investment adviser in Connecticut and Texas. 

During his 47 years of experience, Robert Outtrim has registered with two firms: Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) and Merrill Lynch, Pierce, & Smith, Inc. (CRD #: 572). 

Kurta Law Can Help 

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