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Todd Paradise Allegedly Recommended Unsuitable, Risky Investments

Aug 22, 2023 Unsuitable Investments

Todd Paradise (CRD #: 4248813), a previously registered broker with United Planners’ Financial Services of America, is the subject of an investor dispute, according to his BrokerCheck record, accessed on August 15, 2023. Keep reading if you have concerns about his conduct as a broker. 

On June 26, 2023, an investor alleged that Todd Paradise recommended unsustainable and overly risky investments. 

FINRA Rule 2111 – Unsuitable and Risky Investments 

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. 

  • Investments can be unsuitable because they are high-risk and likely to lose money.
  • Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
  • Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
  • These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

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

Background Information 

Todd Paradise 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 

Todd Paradise has registered with the following firms: 

  • United Planners’ Financial Services of America, A Limited Partner (CRD #: 20804) 
  • Cambridge Investment Research (CRD #: 39543) 
  • Woodbury Financial Services (CRD #: 421) 
  • Mony Securities Corporation (CRD #: 4386) 

Kurta Law Can Help

If you worked with Todd Paradise and you 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.