Timothy Fraser is the Subject of a Variable Annuity Dispute

Timothy Fraser (CRD #: 4868026), a broker registered with LPL Financial, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on May 17, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On March 25, 2024, an investor alleged that Timothy Fraser recommended unsuitable investments in variable annuities. The investor is seeking $2,000,000 in this pending dispute. 

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.

What is a Variable Annuity? 

Variable annuities are complex investments. They are insurance products that come with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. Furthermore, the risk associated with this type of illiquid investment makes it unsuitable for many investors. 

Background Information 

Timothy Fraser 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 24 General Securities Representative Examination 
• Series 26 Investment Company Products/Variable Contracts Principal Examination 

He is a registered broker in 30 states and D.C. He is a registered investment adviser in Illinois and Texas. 

During his 19 years of experience, he has registered with two firms: 

• LPL Financial (CRD #: 6413) 
• First Investors Corporation (CRD #: 305) 

Kurta Law Can Help 

If you have worked with Timothy Fraser and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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 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. Do not let securities fraud go unchecked. Start your recovery process today.