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Investor Alleges Victor Furniss Overconcentrated Them in Unsuitable Investments

May 24, 2023 Unsuitable Investments

Victor Furniss (CRD #: 5957759), a broker registered with Cetera Investment Services, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on May 15, 2023. Investors may have also engaged his services through Cetera Investment Advisers. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On February 6, 2023, an investor filed a dispute alleging that Victor Furniss recommended and overconcentrated them in unsuitable investments. The client seeks $100,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must consider the information in the investor’s profile, such as their tax status, age, and risk tolerance when recommending investments.

Suitability also applies to investment strategies. One example of a potentially unsuitable investment strategy is overconcentration, which comes with a level of risk beyond what is appropriate for many investors’ financial goals.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

Background Information

Victor Furniss has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Victor Furniss is a registered broker in seven states and a registered investment adviser in Florida.

He has also worked for J.P. Morgan Securities (CRD#:79) and Chase Investment Services (CRD#:25574).

Kurta Law Can Help

If you worked with Victor Furniss 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 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.