Alison Fleming Allegedly Recommended Unsuitable Mutual Funds and ETFs

Alison Fleming (CRD #: 1960175), a broker registered wtih LPL Financial, is the subject of an investor dispute. This disclosure appears on her BrokerCheck record, accessed on September 20, 2024. Keep reading if you have questions regarding her alleged conduct. 

Investor Allegations 

On July 30, 2024, an investor alleged that Alison Fleming recommended unsuitable mutual funds and exchange-traded funds. The investor is seeking $500,000. 

What is an Unsuitable Investment? 

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. 

Rule 2111 also requires brokers to consider the following investor characteristics: 

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investments that do not fit the criteria established by the investor profile may be unsuitable. Investors who rely on brokers for recommendations may recover their losses by pursuing FINRA arbitration.

What is an Exchage Traded Fund (ETF)?

Exchange traded funds (ETFs) are pooled investments that invest in a bundle of underlying securities. They are similar to mutual funds, but can pose greater risk for investors, especially if they are inverse or leveraged. Inverse ETFs aim to make money on declining share prices, while leveraged ETFs use borrowed money. 

Background Information 

Alison Fleming has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 22 Direct Participation Prgorams Representative Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 
• Series 24 General Securities Representative Examination 

She has registered with two firms, LPL Financial (CRD #: 6413) and Waddell & Reed (CRD #: 866). 

Kurta Law Can Help 

If you worked with Alison Fleming and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.