Denise Deleo Facing Unsuitable Recommendation Allegations

Denise Deleo (CRD #: 2700949), a broker registered with LPL Financial, is facing an investor dispute, according to her BrokerCheck record, accessed on August 16, 2023. Keep reading if you have questions about her alleged conduct as a broker. 

On June 22, 2023, an investor alleged that Denise Deleo recommended unsuitable investments. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, and financial goals. 

• Investments can be unsuitable because they are high-risk and likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
• Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration to recover their losses.

Background Information 

Denise Deleo has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Series Industry Essentials Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in 25 states and an investment adviser in 14 states. 

Denise Deleo has registered with the following firms: 

• LPL Financial (CRD #: 6413) 
• Waddell & Reed (CRD #: 866) 

Kurta Law Can Help

If you worked with Denise Deleo 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 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.