Walter Meyers is the Subject of an Alternative Investment Dispute

Walter Meyers (CRD #: 4207941), a broker registered with Osaic Wealth, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on February 27, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Dispute

On November 21, 2023, an investor alleged that Walter Meyers misrepresented an unsuitable alternative investment. The investor is seeking $68,000. 

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Unsuitable Investments 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Excessive trading, which violates the need for quantitative suitability. This means that the number of trades must suit an investor’s goals. Excessive trading is also known as “churning.” 
• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information 

Walter Meyers has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 31 Futures Managed Funds Examination 
• Series 7 General Securities Representative Examination

He is a registered broker in Florida, Illinois, Indiana, Iowa, and North Carolina. 

During his 23 years of experience, he has registered with six firms: 

• Osaic Wealth (CRD #: 23131) 
• Woodbury Financial Services (CRD #: 421) 
• LPL Financial (CRD #: 6413) 
• Fifth Third Securities (CRD #: 628) 
• A.G. Edwards & Sons (CRD #: 4) 
• Morgan Stanley (CRD #: 7556) 

Kurta Law Can Help 

If you have worked with Walter Meyers and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.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 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. Do not let securities fraud go unchecked. Start your recovery process today.