Robert Turley (CRD #: 1519293), a broker registered with Independent Financial Group LLC, is facing allegations that he made unsuitable investment recommendations to a client, according to his BrokerCheck record, accessed on August 24, 2020. In fact, there is more than one allegation related to his recommendation of unsuitable investments on his record.
On June 5, 2020, an investor alleged that Robert Turley made unsuitable investment recommendations. The client is seeking $50,000 in damages; the dispute is pending.
On December 19, 2019, an investor alleged that Robert Turley made unsuitable investment recommendations. The client is seeking $102,000; the dispute is pending.
What is an unsuitable investment recommendation? The Financial Industry Regulatory Authority (FINRA) states in Rule 2111 that brokers must have a reasonable basis for believing that a security fits their client’s investment profile. Brokers must perform their due diligence by assessing, among other factors, their client’s financial situation and needs, tax status, investment experience, and risk tolerance. You can read more about FINRA’s suitability rules here.
Robert Turley has passed the Securities Industry Essentials Examination, the Series 62 Corporate Securities Limited Representative Examination, and the Series 6 Investment Company Products / Variable Contracts Representative Examination. He is a registered broker in Florida, New Jersey, and Vermont.
In his 34-year career, Robert Turley has worked at the following firms:
- Sentra Securities Corporation (CRD #: 10249)
- Jefferson Pilot Securities Corporation (CRD #: 3870)
- Prime Capital Services, Incorporated (CRD #: 18334)
- Lifemark Securities Corporation (CRD #: 16204)
- Pruco Securities Corporation (CRD #: 5685)
If Robert Turley was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email email@example.com for your free case consultation with a securities attorney.