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Investor Alleges Thomas Renzi Made Unsuitable Investment Recommendations

Jun 3, 2022 Unsuitable Investments

Thomas Renzi (CRD #: 1923679), a broker registered with RBC Capital Markets, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on May 23, 2022. Read on to learn more about Thomas Renzi’s conduct as a broker.

Investor Dispute

A pending dispute filed on February 23, 2022, alleges that Thomas Renzi made unsuitable investment recommendations.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as those which adequately match an investor's profile. Brokers must consider the investor characteristics described in their client’s profile, such as their financial goals, age, and risk tolerance when making their recommendations.

  • High-risk investments, which are more likely to lose money, are a common type of unsuitable investment.
  • Illiquid investments, intended to be held for an extended period of time, can also be unsuitable because they can incur high fees for investors who try to sell them.
  • Excessive trading violates the requirement for quantitative suitability by generating fees and commissions that cut into investors’ returns.

Investors may be able to recover losses caused by unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information

Thomas Renzi 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

Thomas Renzi is a registered broker in 19 states and a registered investment adviser in California, New York, and Texas.

He has also worked for the following firms:

  • Citigroup Global Markets (CRD#:7059)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
  • Key Brokerage Company (CRD#:15873)
  • Liberty Securities (CRD#:14416)
  • SMA Equities (CRD#:3960)

Kurta Law Can Help

If you worked with Thomas Renzi and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.