Suzette Lawrence, a broker and investment advisor associated with Independent Financial Group, LLC, has recently settled a customer dispute, according to her FINRA BrokerCheck record. The client expressed frustration with losses in his investment advisory account between July 28, 2021, and December 21, 2023. The dispute, which was settled on January 24, 2024, involved equity listed products, such as common and preferred stock.
While the specific details of the settlement remain undisclosed, the resolution of this case raises concerns about the quality of advice and management provided by Lawrence and her firm. Independent Financial Group, LLC, based in California, has been registered with FINRA since March 15, 2024. As of now, Lawrence maintains her status as a broker and investment advisor with the firm, despite the recent customer dispute.
Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, is currently investigating Suzette Lawrence and Independent Financial Group, LLC in relation to this settled customer dispute. With over 50 years of combined experience and a 98% success rate, Haselkorn & Thibaut has a proven track record of helping investors recover losses through FINRA arbitration. The firm operates on a “No Recovery, No Fee” basis and offers free consultations to potential clients. Investors who believe they may have suffered losses due to the actions of Suzette Lawrence or Independent Financial Group, LLC are encouraged to contact Haselkorn & Thibaut at 1-888-885-7162 .
Understanding FINRA Rule 2111: Suitability
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FINRA Rule 2111, known as the “Suitability Rule,” requires brokers and investment advisors to have a reasonable basis for believing that a recommended transaction or investment strategy is suitable for their client. This assessment must take into account the client’s investment profile, which includes factors such as age, financial situation, investment objectives, and risk tolerance.
In the case of Suzette Lawrence and Independent Financial Group, LLC, the settled customer dispute suggests that the investments recommended or managed by Lawrence may not have been suitable for the client’s specific circumstances. If a broker or advisor fails to adhere to the Suitability Rule, they may be held liable for any resulting losses incurred by the client.
According to a Forbes article, investment fraud and bad advice from financial advisors are more common than many investors realize. The article states that “one in five Americans over the age of 65 has been a victim of financial exploitation, with an estimated loss of $2.9 billion annually.”
Protecting Investors’ Rights
The settlement of this customer dispute serves as a reminder of the importance of holding financial professionals accountable for their actions. Investors have the right to expect that their brokers and advisors will act in their best interests and provide suitable investment recommendations based on their unique financial situation and goals.
When an investor suffers losses due to the negligence or misconduct of a financial professional, they may be entitled to recover damages through FINRA arbitration. This dispute resolution process allows investors to seek compensation for losses caused by improper investment advice, misrepresentation, or other forms of broker misconduct.
Recognizing Red Flags and Seeking Help
Investors should be aware of potential red flags that may indicate financial advisor malpractice, such as:
- Unexplained or excessive account losses
- Unauthorized trades or transactions
- Lack of communication or transparency from the advisor
- Investments that appear unsuitable based on the investor’s profile
If an investor suspects that they have been the victim of financial advisor misconduct, it is crucial to seek the guidance of an experienced investment fraud attorney. Firms like Haselkorn & Thibaut can help investors navigate the complexities of FINRA arbitration and work towards recovering their losses.
For more information or to schedule a free consultation, investors can contact Haselkorn & Thibaut at 1-888-885-7162 or visit their website to learn more about their services and track record of success in handling investment fraud cases.
