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Investor Names Scot Barringer in Suitability Dispute

Scot Barringer (CRD #: 1385168), a broker registered with American Trust Investment Services, is involved in a pending dispute, according to his BrokerCheck record, accessed on July 2, 2022. Investors may also have engaged Scot Barringer’s services at Chicago Capital Management Advisors. Keep reading if you have questions about Scot Barringer’s conduct as a broker.

Investor Disputes

On April 6, 2022, an investor named Scot Barringer in unspecified allegations related to suitability. The investor seeks $60,000 in this pending dispute.

Another dispute, filed in 2013, similarly named Scot Barringer in allegations concerning suitability between February and June 2009. This dispute was settled for $70,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consider the information described in an investor’s profile, such as their age, tax status, and risk tolerance. 

  • Securities may be unsuitable due to their high degree of risk or lack of liquidity, leading to losses for the investor.
  • Trades are quantitatively unsuitable if they are excessive in number, leading to high fees and commissions that cut into investors’ returns.
  • Investment strategies must also be suitable for an investor’s goals. A common unsuitable investment strategy is overconcentration, which comes with increased risk.

Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

Tax Lien

On October 21, 2015, Scot Barringer faced a $4,589.66 tax lien.

Background Information

Scot Barringer 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 3 – National Commodity Futures Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination
  • Series 53 – Municipal Securities Principal Examination
  • Series 4 – Registered Options Principal Examination
  • Series 27 – Financial and Operations Principal Examination

Scot Barringer is a registered broker in 17 states and a registered investment adviser in six states.

He has also worked for the following firms:

  • Westpark Capital (CRD#:39914)
  • Applied Wealth Management (CRD#:115883)
  • Newport Coast Securities (CRD#:16944)
  • Securities America (CRD#:10205)
  • Brookstreet Securities (CRD#:14667)
  • Barringer Ryan Vance (CRD#:22756)
  • J K R & Company (CRD#:8040)
  • Bateman Eichler, Hill Richards (CRD#:76)

Kurta Law Can Help

If you worked with Scot Barringer 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.