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Family of Deceased Client Seeks Over $1 Million in Dispute with Scott Coonrod

Scott Coonrod (CRD #: 4311374), a broker formerly registered with FSC Securities, is the subject of a pending investor dispute, according to his BrokerCheck record, accessed on January 25, 2023. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On November 22, 2022, the wife and child of a deceased client filed a dispute alleging that Scott Coonrod engaged in “excessively aggressive” trading. They seek $1,228,822 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles describe an investor’s tax status, financial goals, and other characteristics.

Excessive trading, also called churning, violates the need for quantitative suitability. This means that a broker’s overall trading activity must be suitable given the client’s profile. Excessive trading can generate high fees and commissions that can significantly reduce an investor’s returns.

Investors who rely on brokers for investment recommendations can seek out FINRA arbitration and potentially recover their losses.

Tax Liens

In 2022, Scott Coonrod was subject to $129,110.31 in tax liens.

Background Information

Scott Coonrod 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

He previously worked for the following firms:

  • FSC Securities (CRD#:7461)
  • Morgan Stanley (CRD#:149777)
  • Morgan Stanley & Company (CRD#:8209)
  • Morgan Stanley DW (CRD#:7556)
  • Citigroup Global Markets (CRD#:7059)

Kurta Law Can Help

If you worked with Scott Coonrod 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.