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Investor Alleges Russell McAlister Failed to Act in Her Best Interest

Russell McAlister (CRD #: 2914778), a broker registered with Edward Jones, is the subject of a pending investor dispute, according to his BrokerCheck record, accessed on February 16, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On January 18, 2023, an investor alleged that Russell McAlister failed to act in her best interest in the last 22 years. This dispute is currently pending.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. Brokers must examine the information contained in an investor’s profile, such as their tax status, risk tolerance, and age.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Russell McAlister has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Russell McAlister is a registered broker in 19 states and a registered investment adviser in Kentucky and Texas.

Kurta Law Can Help

If you worked with Russell McAlister 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. 

 

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