Roderick Rodriguez Allegedly Overconcentrated Investor’s Assets

Roderick Rodriguez (CRD #: 2680445), a broker registered with Infinex Investments, allegedly over-concentrated a client in an illiquid investment, according to his BrokerCheck record, accessed on April 14, 2023. Read on to learn more about his alleged conduct as a broker.

Investor Disputes

On March 30, 2023, an investor alleged that Roderick Rodriguez overconcentrated their assets into a single illiquid investment. They seek $50,000 in damages in this pending dispute.

In a dispute filed on November 10, 2020, an investor alleged that Roderick Rodriguez made an unsuitable recommendation. The client sought $150,000 in damages and received a settlement of $55,000.

On September 16, 2020, an investor alleged that Roderick Rodriguez misrepresented the refund policies of two real estate investment trust (REIT) companies. They sought $157,760.89 in damages but the dispute was denied by the firm.

Another dispute filed on September 16, 2020, alleged that Roderick Rodriguez failed to inform her about the full liquidity procedure associated with an investment and denied her a refund. The client sought $71,233.71 but the firm denied the dispute.

However, investors should be aware that firms can deny disputes without an external review. Investors can still pursue FINRA arbitration after a denial and may be able to recover their losses.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile, which describes characteristics such as their risk tolerance, tax status, and age.

Brokers must also take into account the client’s profile when recommending investment strategies. For instance, a strategy involving overconcentration may not be suitable for a client with a low risk tolerance.

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their funds by seeking out FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of deception, manipulation, and other fraudulent tactics to influence investors’ decisions. The misrepresentation or omission of material facts violates this rule.

What are REITs?

Real estate investment trusts (REITs) allow investors to pool their funds together in a portfolio of real estate and earn returns without taking on responsibility for the properties. However, REITs are typically illiquid, which may make them unsuitable for some investors.

Background Information

Roderick Rodriguez 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 7 – General Securities Representative Examination

Roderick Rodriguez is a registered broker in seven states and a registered investment adviser in New Jersey and New York.

He has also worked for the following firms:

• Essex National Securities (CRD#:25454)
• Citigroup Global Markets (CRD#:7059)
• LPL Financial (CRD#:6413)
• IFMG Securities (CRD#:14416)
• Invest Financial Corporation (CRD#:12984)
• Gruntal & Company (CRD#:372)
• First Albany Corporation (CRD#:298)
• Gruntal & Company (CRD#:372)

Kurta Law Can Help

If you worked with Roderick Rodriguez 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.