Steve Jones Allegedly Recommended Unsuitable Investments

Steve Jones (CRD #: 867147), a broker registered with Cambridge Investment Research, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on April 25, 2024. Details concerning this dispute are provided below. 

Investor Allegations 

On February 29, 2024, investors alleged that Steve Jones recommended unsuitable investments for their investment objectives and risk tolerance. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information 

Steve Jones 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 Product/Variable Contracts Representatives Examination 
• Series 22 Direct Participation Programs Representative Examination 
• Series 1 Registered Representative Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker in 26 states and D.C. He is a registered investment adviser in South Carolina and Texas. 

During his 37 years of experience, Steve Jones has registered with ten firms. These are the five most recent: 

• Cambridge Investment Research (CRD #: 39543) 
• Cambridge Investment Research Advisors (CRD #: 134139) 
• Advantage Investment Management (CRD #: 146236) 
• LPL Financial (CRD #: 6413) 
• Securities America Advisors (CRD #: 110518) 

Kurta Law Can Help 

If you have worked with Steve Jones and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.