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Robert Schultz Allegedly Recommended Unsuitable Alternative Investments

Robert Schultz (CRD #: 4163450), a broker registered with Osaic Wealth, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on August 23, 2024. Details concerning this dispute are provided below. 

Investor Allegations

On June 27, 2024, an investor alleged that Robert Schultz recommended unsuitable alternative investments. They further alleged he unsuitably recommended the sale of alternative investments. 

The investor is seeking $75,000. 

What is an Unsuitable Investment? 

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. Rule 2111 also requires brokers to consider the following investor characteristics: 

  • Investment goals
  • Age
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

Investments that do not fit the criteria established by the investor profile may be unsuitable. Investors who rely on brokers for recommendations may recover their losses by pursuing FINRA arbitration.

Background Information 

Robert Schultz has passed the following exams: 

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

He is a registered broker in 27 states and Puerto Rico. He is a registered investment adviser in California. 

During his 24 years of experience, he has registered with the following firms: 

  • Osaic Wealth (CRD #: 23131)
  • NWF Advisory Services (CRD #: 110410) 
  • Royal Alliance Associates (CRD #: 23131) 
  • 1717 Capital Management Company (CRD #: 4082) 

Kurta Law Can Help 

If you worked with Robert Schultz and you 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.

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