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Investor Alleges Saul Rothberger Executed Unsuitable Investment Strategy

Saul Rothberger (CRD #: 2914820), a broker registered with Avantax Investment Services, is the subject of a pending dispute, according to his BrokerCheck record, accessed on January 23, 2023. Investors may have also engaged his services through Avantax Advisory Services. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

On November 30, 2022, an investor alleged that Saul Rothberger executed an unsuitable investment strategy in their account(s). This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must use the information contained in an investor’s profile, such as their tax status, risk tolerance, and overall financial situation.

Some common violations of this rule include:

  • Recommendations of high-risk investments, which are more likely to result in losses.
  • Recommendations of illiquid investments. Because these are intended to be held for a long time, investors may incur high fees when they attempt to liquidate them.
  • Excessive trading, which is quantitatively unsuitable. In other words, overall trading activity in an account must also suit an investor’s goals.
  • Recommendations of unsuitable investment strategies. For example, overconcentration in a particular stock or sector may expose an investor to an unsuitable degree of risk.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

Background Information

Saul Rothberger has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Saul Rothberger is a registered broker in Florida, New Jersey, and New York. He is also a registered investment adviser in New York.

He has also worked for the following firms:

  • Bishop, Rosen & Company (CRD#:1248)
  • Janney Montgomery Scott (CRD#:463)
  • MetLife Securities (CRD#:14251)
  • Metropolitan Life Insurance Company (CRD#:4095)

Kurta Law Can Help

If you worked with Saul Rothberger and you have concerns about your investments, please contact us today at 877-600-0098 or 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.