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Ted Candella Involved in $1.6 Million Suitability Dispute

Dec 28, 2021 Investor Disputes

Ted Candella (CRD #:3171607), a broker registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is involved in an unsuitability dispute according to his BrokerCheck record.  

According to the allegations filed on October 8, 2021, Ted Candella recommended an unsuitable investment and failed to advise on the unforeseen tax consequences of selling stocks. The damage amount requested is $1.6 million — the case is still pending.  

A broker must have exercised due diligence and have an adequate reason for believing that an investment strategy will also be suitable or beneficial for the investor. An investment is only considered "suitable" if it meets the suitability criteria outlined in FINRA Rule 2111.  

Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration if their broker recommends an unsuitable investment.  

Ted Candella's alleged conduct also violates FINRA Rule 2020, which prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. FINRA Rule 2020 also prohibits brokers from omitting material facts about an investment. Losses that can be attributed to a stockbroker's material misrepresentations of facts may result in a viable securities arbitration claim for damages.  

Ted Candella Background Information 

Ted Candella has passed the following exams: 

  • Series 66 - Uniform Combined State Law Examination 
  • SIE - Securities Industry Essentials Examination 
  • Series 31 - Futures Managed Funds Examination 
  • Series 7 - General Securities Representative Examination 
  • Series 10 - General Securities Sales Supervisor - General Module Examination 
  • Series 9 - General Securities Sales Supervisor - Options Module Examination 

Ted Candella is a registered broker in 42 states. He is also a registered investment advisor in Texas and New York. 

Oher than Merrill Lynch, Pierce, Fenner & Smith Incorporated Ted Candella has not worked with any other firm   

Kurta Law Can Help 

If you have worked with Ted Candella and have concerns about your investments, don't hesitate to contact us today 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 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.