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Investors Allege Roger Sims Invested in Unsuitable REITs

May 2, 2022 Unsuitable Investments

Roger Sims (CRD #: 2838516), a broker registered with LPL Financial, is alleged to have made unsuitable investment recommendations, according to his BrokerCheck record, accessed on April 21, 2022. Read on if you want to know more about Roger Sims’s conduct as a broker.

Allegations of Unsuitable Investment Recommendations

Investors claimed on January 18, 2022, that Rogers Sims made unsuitable investments in real estate investment trusts (REITs) on their behalf between May 2014 and November 2015. This dispute is currently pending.

FINRA Rule 2111

Brokers must follow FINRA Rule 2111 when making investment recommendations. This rule requires brokers to use investors’ profiles—which contain information like clients’ tax status, risk tolerance, and other investments—to determine what investments would be best for each client.

Investors who lose money through unsuitable investments may be able to recover their losses by pursuing FINRA arbitration.

What are real estate investment trusts?

Real estate investment trusts (REITs) are companies that allow investors to purchase shares in real estate and earn dividends without needing to manage the properties. However, the illiquid nature of REITs makes them unsuitable for many investors.

Background Information

Roger Sims 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
  • Series 7 - General Securities Representative Examination
  • Series 51 - Municipal Fund Securities Principal Examination
  • Series 24 - General Securities Principal Examination

Roger Sims is a registered broker in 32 states and is a registered investment adviser in South Carolina and Texas.

In the past, he has also worked for Raymond James Financial Services (CRD#:6694) and FSC Securities Corporation (CRD#:7461).

Kurta Law Can Help

If you worked with Roger Sims 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.