Did Trevor Fried Recommend Unsuitable Stocks?
Trevor Fried (CRD #: 5709772), a broker and investment advisor registered with Morgan Stanley, was involved in an investor dispute, according to his BrokerCheck record, accessed on February 20, 2022.
According to the allegations filed on December 3, 2021, Trevor Fried purchased unsuitable stocks. The firm denied the dispute, but investors should know that firms can deny disputes without any external review. Investors can still recover losses following a denial.
A broker must have exercised due diligence and have an adequate reason for believing that an investment will also be suitable or beneficial for the investor. FINRA Rule 2111 defines suitable investments as securities that fit an investor's profile. An investor's profile includes information about their risk tolerance, financial goals, and age.
- Investments can be unsuitable because they are high risk and likely to lose money.
- Securities may also be unsuitable because they are illiquid, meaning 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 over-concentrated in a particular stock or sector.
Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration if their broker recommended an unsuitable investment.
Trevor Fried has passed the following exams:
- Series 66 - Uniform Combined State Law Examination
- SIE - Securities Industry Essentials Examination
- Series 7 - General Securities Representative Examination
Trevor Fried is a registered broker in 42 states. He is also a registered investment advisor in Texas and Florida.
Besides Morgan Stanley (CRD #: 149777), Trevor Fried has not worked with any other firm.
Kurta Law Can Help
If you have worked with Trevor Fried and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or email@example.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 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.