Steven Orr is Facing an Overconcentration Dispute

Steven Orr (CRD #: 1583467), a broker registered with Grove Point Investments, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on March 22, 2024. Details concerning this dispute are provided below. 

Investor Dispute

On December 19, 2023, investors alleged that Steven Orr recommended unsuitable investments and overconcentrated their portfolios. The investors are seeking $300,000. 

Unsuitable Overconcentration 

FINRA Rule 2111 prohibits unsuitable investment recommendations. Overoncenrated investments are often unsuitable because they expose the investor to unnecessary risk. Brokers are required to consider their investor’s risk tolerance when they make recommendations. 

Diversified portfolios expose investors to a broader swath of the market and lessen the chance that an investor will suffer major losses following a drop in share prices for a particular stock or sector. Investors who rely on brokers for recommendations may be able to recover losses following overconcentration by pursuing FINRA arbitration.

Background Information 

Steven Orr 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 Products / Variable Contracts Representative Examination

He is a registered broker in 15 states and is a registered investment adviser in Texas. 

Steven Orr has 36 years of experience and has registered with five firms: 

• Grove Point Investments (CRD #: 1763) 
• H. Beck (CRD #: 1763) 
• Orr Financial (CCRD #: 115379) 
• Dewaay Financial Network (CRD #: 30767) 
• H. Beck (CRD #: 1763) 
• AAL Capital Management Corporation (CRD #: 18387) 

Kurta Law Can Help 

If you have worked with Steven Orr and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or 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.