- November 16, 2023
- Cambridge Investment Research
Kurt Cambier (CRD#: 1392482) is a registered broker and investment advisor at Cambridge Investment Research, Inc. in Littleton, CO.
He entered the securities industry in 1986 and previously worked for Multi-Financial Securities Corporation; MML Investors Services, Inc.; G.R. Phelps & Co., Inc.; Amev Investors, Inc.; Pruco Securities Corporation.
Current and Past Allegations of Conduct Leading to Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in May 2023, Kurt Cambier became the subject of a customer dispute alleging, “an investment recommendation was made for the purpose of generating high commissions and fees and that Claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio.” The customer dispute is still pending.
In addition, Kurt Cambier has been the subject of one other customer dispute:
- December 2021—“ The Statement of Claim alleges the financial professional recommended investments that were not suitable for the Claimants.” The customer dispute settled for $67,000.
For a copy of Kurt Cambier’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
Excessive trading often occurs when a Financial Advisor puts his or her interests ahead of the clients and makes transactions solely for the purpose of generating commissions. Financial Advisors have a regulatory duty to recommend suitable investment strategies. One of the components of the suitability analysis is quantitative suitability.
Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation. Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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