Joseph Todd, a former broker and investment advisor associated with Centaurus Financial, Inc., is currently under investigation by Haselkorn & Thibaut, a national investment fraud law firm. The firm is offering free consultations to clients who may have suffered losses due to Todd’s alleged misconduct.
According to a recent disclosure on Todd’s FINRA BrokerCheck report (CRD #1830390), a customer has filed a dispute alleging that in December 2020, Todd recommended an unsuitable investment in corporate debt. The case is currently pending, and the damage amount requested has not been disclosed.
FINRA Rule 2111 requires brokers and investment advisors to have a reasonable basis for believing that a recommended transaction or investment strategy is suitable for the customer, based on the customer’s investment profile. This profile includes factors such as age, financial situation, investment objectives, and risk tolerance. When a broker or advisor recommends an investment that does not align with a client’s profile, it is considered an unsuitable recommendation and violates FINRA rules.
Suitable investment recommendations are crucial for investors, as they help protect their financial well-being and ensure that their investments align with their goals and risk tolerance. When a broker or advisor recommends unsuitable investments, investors may suffer significant losses and face financial hardship. In fact, according to a Bloomberg article, investment fraud and bad advice from financial advisors can lead to substantial financial penalties and legal consequences for the firms involved.
It is essential for investors to work with trusted professionals who prioritize their clients’ best interests and provide guidance based on a thorough understanding of their unique financial situations. Investors should be aware of potential red flags that may indicate financial advisor malpractice, such as:
- Recommending investments that do not align with the client’s risk tolerance or investment objectives
- Failing to disclose material information about an investment’s risks or fees
- Engaging in excessive trading or unauthorized transactions
If an investor believes they have suffered losses due to a broker or advisor’s misconduct, they may be able to recover damages through FINRA arbitration. This process allows investors to seek compensation for losses resulting from unsuitable investment recommendations, negligence, or other forms of malpractice.
Haselkorn & Thibaut, with offices in Florida, New York, North Carolina, Arizona, and Texas, has over 50 years of combined experience representing investors in FINRA arbitration proceedings. The firm has a 98% success rate in securing financial recoveries for its clients and operates on a “No Recovery, No Fee” basis.
Investors who believe they may have been affected by Joseph Todd’s alleged misconduct are encouraged to contact Haselkorn & Thibaut for a free consultation. The firm’s experienced attorneys can help investors understand their rights and options for pursuing recovery of their losses. To learn more or schedule a consultation, investors can call Haselkorn & Thibaut’s toll-free number at 1-888-885-7162.
