Edward Jones financial advisor Kenneth Surber (CRD 1533864) is facing a serious customer dispute allegation, according to his FINRA BrokerCheck report. The client alleges that Surber failed to adjust investments in a trust account to preserve the trust’s principal, putting the client’s financial well-being at risk. This pending dispute, filed on March 18, 2024, involves managed or wrap accounts (in-house) and could have significant implications for both the advisor and the firm.
As an investor, it’s crucial to be aware of such allegations, as they can impact the trust and confidence you place in your financial advisor and the brokerage firm they represent. When an advisor fails to act in the best interest of their clients, it can lead to substantial financial losses and undermine the client’s ability to achieve their investment goals. Investment fraud and bad advice from financial advisors are unfortunately common occurrences that can have devastating consequences for investors.
Understanding the Allegation and FINRA Rules
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In simple terms, the client accuses Kenneth Surber of not properly managing the investments in their trust account to safeguard the principal amount. This suggests that the advisor may have taken unnecessary risks or failed to adapt the investment strategy to changing market conditions, resulting in potential losses for the client.
FINRA rules require financial advisors to adhere to high standards of professional conduct and to always act in the best interest of their clients. Specifically, FINRA Rule 2111 (Suitability) mandates that advisors have a reasonable basis to believe that their investment recommendations are suitable for the client based on the client’s financial situation, risk tolerance, and investment objectives.
The Importance for Investors
This allegation against Kenneth Surber and Edward Jones serves as a reminder of the importance of carefully monitoring your investments and the actions of your financial advisor. Investors should regularly review their account statements, ask questions about their portfolio’s performance, and ensure that their investments align with their goals and risk tolerance.
When a financial advisor fails to uphold their duties, it can result in significant losses for investors. These losses can derail retirement plans, jeopardize educational funds, and cause undue financial stress. As an investor, it’s essential to stay vigilant and to take action if you suspect misconduct or negligence on the part of your advisor.
Red Flags and Recovering Losses
Some red flags that may indicate financial advisor malpractice include:
- Unexplained or excessive account losses
- Unauthorized trades or account activity
- Lack of communication or transparency from the advisor
- Investments that don’t align with your risk tolerance or goals
If you suspect that you have suffered losses due to the misconduct or negligence of Kenneth Surber or any other Edward Jones financial advisor, you may be able to recover your losses through FINRA arbitration. Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, is currently investigating this matter and offering free consultations to affected clients.
With over 50 years of combined experience and a 98% success rate, Haselkorn & Thibaut has a proven track record of helping investors recover their losses through FINRA arbitration. The firm operates on a contingency basis, meaning they charge no fees unless they successfully recover money on your behalf.
To discuss your legal options and potential recovery, contact Haselkorn & Thibaut today at 1-888-885-7162 for a free consultation. Don’t wait to take action, as time may be limited to file your claim.
