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Investor Seeks $10 Million in Damages in Dispute with Todd Nuss

Jan 6, 2023 Unsuitable Investments

Todd Nuss (CRD #: 5288692), a broker registered with Morgan Stanley, is involved in a pending dispute, according to his BrokerCheck record, accessed on December 29, 2022. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

On October 24, 2022, an investor alleged, among other things, that Todd Nuss recommended a pension plan to utilize an outside money manager who failed to implement a liability-driven investment strategy with a short-term duration from 2021-2022. The client alleges that this strategy was unsuitable.

They seek $10 million in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the investor’s profile, which contains the following characteristics:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

Investors who rely on their brokers for recommendations may be able to recoup their losses through FINRA arbitration.

Background Information

Todd Nuss has passed the following exams:

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Todd Nuss is a registered broker in 27 states and the District of Columbia. He is also a registered investment adviser in Ohio and Texas.

He has also worked for Citigroup Global Markets (CRD#:7059).

Kurta Law Can Help

If you worked with Todd Nuss 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.