Shaun Floresca Allegedly Purchased Unsuitable Investment

Shaun Floresca (CRD #: 4758697), a broker registered with LPL Financial, allegedly chose an unsuitable investment for a client, according to his BrokerCheck record, accessed on March 15, 2023. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On February 2, 2023, an investor alleged that Shaun Floresca made an unsuitable investment in June 2014 that did not fit the client’s risk tolerance and investment objectives. The client seeks $85,000 in damages in this pending dispute.

FINRA Rule 2111

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

Investors who rely on their broker for recommendations may be able to recoup their losses by pursuing FINRA arbitration.

Background Information

Shaun Floresca 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
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Shaun Floresca is a registered broker in 25 states and the District of Columbia. He is also a registered investment adviser in Illinois and Texas.

He has also worked for the following firms:

• CUNA Brokerage Services (CRD#:13941)
• Chase Investment Services CORP. (CRD#:25574)
• MML Investors Services (CRD#:10409)
• Merrill Lynch Pierce Fenner & Smith (CRD#:7691)
• Banc One Securities Corporation (CRD#:16999)

Kurta Law Can Help

If you worked with Shaun Floresca 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.