Travis Eiland Involved in a Six-Figure Dispute
Travis Eiland (CRD #: 4127872), a former broker registered with HD Vest Investment Services, is involved in an investor dispute, according to his BrokerCheck record, accessed on September 21, 2001.
On July 16, 2021, investors alleged that Travis Eiland recommended an unsuitable investment and churned his account. Churning means that an investor executed so many transactions that the commissions and fees make it unlikely the investor will generate a profit. The investor is seeking $369,314; the dispute is pending.
According to FINRA Rule 2111, suitable investments must fit an investor’s risk tolerance, investment time horizon, financial goals, investing experience, and age. Brokers have access to this information through the investor’s profile. If brokers recommend unsuitable investments, the investor may be able to recover losses.
- Investments can be unsuitable because they are high-risk or alternative investments and are likely to lose money. These include investments like non-traded REITs, energy investments, and leveraged, non-traditional ETFs.
- Securities may also be unsuitable because they are illiquid, meaning that they are meant to be held for an extended time and investors may have to pay high fees to cash out. Direct Private Placements (DPPs) can be very illiquid.
- Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
- Trading strategies also need to be suitable. If a broker over concentrates certain stocks or utilizes margin trading, they may have chosen an unsuitable trading strategy.
Travis Eiland Background Information
Travis Eiland has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
Travis Eiland has only registered with HD Vest Investment Services (CRD #: 13686).
Kurta Law Can Help
If you worked with Travis Eiland and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email email@example.com.