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Investors Name Shabri Moore in Insurance Policy Dispute

Jan 18, 2023 Unsuitable Investments

Shabri Moore (CRD #: 2894381), a broker formerly registered with Commonwealth Financial Network, was involved in a recent investor dispute, according to her BrokerCheck record, accessed on January 10, 2023. Investors may have also engaged her services through Moore Wealth. Read on to learn more about her alleged conduct as a broker.

Investor Dispute

On October 11, 2022, multiple investors filed a dispute alleging that Shabri Moore facilitated the purchase of an unsuitable insurance policy purchased in approximately 2014. The clients sought $230,000 in damages but the dispute was denied by the firm.

However, investors should know that firms can deny disputes without an external review. Investors may be able to recover their funds by pursuing FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Brokers must take into account an investor’s tax status, age, risk tolerance, and other information described in their profile.

  • Investments can be unsuitable because they are high-risk and more likely to cause losses for the client.
  • Investments may also be unsuitable because they are illiquid. Certain securities are meant to be held for an extended time and can penalize investors with high fees if they try to cash out too soon.
  • Trading activity can be quantitatively unsuitable, which means that the broker executed an excessive number of trades.
  • Overall investment strategies can also be unsuitable—overconcentration in a singular stock or sector is a common example.

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

Background Information

Shabri Moore has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 51 – Municipal Fund Securities Principal Examination
  • Series 24 – General Securities Principal Examination

She previously worked for the following firms:

  • Commonwealth Financial Network (CRD#:8032)
  • American Portfolios Financial Services (CRD#:18487)
  • United Planners’ Financial Services of America (CRD#:20804)
  • Walnut Street Securities (CRD#:15840)
  • Sunset Financial Services (CRD#:3538)
  • 1717 Capital Management Company (CRD#:4082)

Kurta Law Can Help

If you worked with Shabri Moore 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.