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Andrew Krauss Allegedly Recommended Unsuitable Managed Account

Andrew Krauss (CRD #: 6097130), a broker registered with Equitable Advisors, allegedly gave an unsuitable recommendation to a client, according to his BrokerCheck record, accessed on February 16, 2023. If you want to know about his alleged conduct as a broker, read on.

Investor Dispute

On January 12, 2023, an investor alleged that Andrew Krauss made an unsuitable recommendation of a managed account in 2022. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles describe certain investor characteristics, including the following:

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

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration. If you believe you suffered losses following an unsuitable recommendation, contact one of our securities attorneys today. 

Background Information

Andrew Krauss has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Andrew Krauss is a registered broker in eight states and a registered investment adviser in six states.

He has also worked for the following firms:

  • National Asset Management (CRD#:115927)
  • National Securities Corporation (CRD#:7569)
  • Prime Capital Services (CRD#:18334)

Kurta Law Can Help

If you worked with Andrew Krauss and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.

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