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Sutton Cavalier Allegedly Executed Unsuitable Transactions

Aug 22, 2023 Unsuitable Investments

Sutton Cavalier (CRD #: 5879713), a broker registered with Raymond James Financial Services, is the subject of an investor dispute, according to his BrokerCheck record, accessed on August 21, 2023. The details of that dispute are provided below. 

On June 14, 2023, an investor alleged she told Sutton Cavalier that she intended to use funds in her investment account to purchase a home, but that he improperly invested the funds in bonds and stocks instead. These investments allegedly resulted in a loss and the investor is seeking $80,000. 

FINRA Rule 2111 

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Investments may be unsuitable because of the time horizon, which is the amount of time the investor intends to hold the investment. 

Brokers must also take into account the following investor characteristics:

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

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

Background Information 

Sutton Cavalier has passed the following exams: 

  • Series 66 Uniform Combined State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 

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

Sutton Cavalier has registered with the following firms: 

  • Raymond James Financial Services (CRD #: 6694) 
  • Raymond James Financial Services Advisors (CRD #: 149018) 
  • Wells Fargo Clearing Services (CRD #: 19616) 
  • RBC Capital Markets (CRD #: 31194) 

Kurta Law Can Help

If you worked with Sutton Cavalier 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 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.