Investors Allege Tammie Farrell Recommended Unsuitable Investments
Tammie Farrell (CRD #: 2475931), a broker registered with Capital Investment Group, allegedly recommended unsuitable investments, according to her BrokerCheck record, accessed on April 6, 2023. Investors may have also engaged her services through Capital Investment Advisory Services. If you have questions about her conduct as a broker, read on.
On February 16, 2023, an investor filed a dispute naming Tammie Farrell in allegations of fraud, negligence, breach of contract, and negligent supervision. The client seeks $100,000 in damages in this pending dispute.
On November 9, 2022, an investor alleged Tammie Farrell recommended unsuitable investments in GWG Holdings. The client seeks $270,000 in this pending dispute.
In a dispute filed on October 11, 2022, an investor alleged Tammie Farrell recommended an unsuitable product. The investor seeks $145,000 in damages in this pending dispute.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
FINRA Rule 3110
Failure to supervise violates FINRA Rule 3110, which requires that firms establish supervisory systems to ensure their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).
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.
What is broker negligence?
Brokers may act in many negligent ways. Common examples include misrepresentations or omissions of fact, unsuitable investment recommendations, and excessive trading.
Investors who feel their losses are the result of broker negligence may be able to recover their funds by seeking out FINRA arbitration.
Tammie Farrell 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
Tammie Farrell is a registered broker in Alabama, Arizona, Florida, Georgia, and North Carolina. She is also a registered investment adviser in North Carolina.
She has also worked for the following firms:
- Wells Fargo Advisors (CRD#:19616)
- First Union Brokerage Services (CRD#:8112)
- BISYS Brokerage Services (CRD#:23302)
- Linsco/Private Ledger Corporation (CRD#:6413)
- SunTrust Securities (CRD#:17499)
Kurta Law Can Help
If you worked with Tammie Farrell and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.