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Did Terri Fassi Recommend Unsuitable Investments?

Terri Fassi (CRD #: 2526113), a broker registered with Centaurus Financial, is the subject of an investor dispute. This disclosure appears on her BrokerCheck record, accessed on October 17, 2023. Keep reading if you have questions about her alleged conduct. 

On September 1, 2023, an investor alleged that Terri Fassi recommended a high-risk, speculative, complex, and illiquid investment. These types of investments are often unsuitable. The investor further alleged she breached her fiduciary duty. 

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.

Fiduciary Duties

Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.) 

Background Information 

Terri Fassi has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • 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 
  • Series 26 Investment Company Products / Variable Contracts Principal Examination 

She is a registered broker in Colorado, Florida, Nevada, New Mexico, Texas, and Wyoming. She is a registered investment adviser in Colorado, Florida, Louisiana, Nevada, and Texas. 

Terri Fassi has registered with the following firms: 

  • Centaurus Financial (CRD #: 30833) 
  • Geneos Wealth Management (CRD #: 120894) 
  • Mutli-Financial Securities Corporation (CRD #: 10299) 
  • SunAmerica Securities (CRD #: 20068) 
  • H.D. Vest Investment Securities (CRD #: 13686) 

Kurta Law Can Help

If you worked with Terri Fassi and 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.