Todd Blessing Subject of a REIT Dispute

Todd Blessing (CRD #: 4369846), a broker registered with Cuso Financial Services, is the subject of an investor dispute, according to his BrokerCheck record, accessed on October 13, 2023. Keep reading if you have questions about this broker. 

On September 7, 2023, an investor alleged Todd Blessing recommended an unsuitable REIT that did not perform well. The investors sought $100,000. The dispute was denied, but investors should know that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

What Are REITs?

Real estate investment trusts (REITs) allow investors to generate returns from a portfolio of real estate without being directly involved in property management. However, REITs tend to be illiquid, which makes them unsuitable for many investors. Non-traded REITs are especially risky because they are not traded on the public exchange, making them difficult or impossible to sell. 

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.

Background Information 

Todd Blessing has passed the following exams: 

• 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 

He is a registered broker in 20 states and is a registered investment adviser in Ohio. 

During his 22 years of experience, Todd Blessing has registered with the following firms: 

• Cuso Financial Services (CRD #: 42132)
• PNC Investments (CRD #: 129052) 
• Pacific Select Distributors (CRD #: 4452) 
• Directed Services (CRD #: 21675)
• Planco Financial Services (CRD #: 8326) 
• ProEquities (CRD #: 15708) 

Kurta Law Can Help

If you worked with Todd Blessing and 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 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.