Douglas Lode Allegedly Misrepresented an Unsuitable Investment

Douglas Lode (CRD #: 4134521), a broker registered with Private Client Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on December 22, 2023. Keep reading if you have questions regarding his conduct as a broker. 

On October 31, 2023, an investor alleged that Douglas Lode recommended an unsuitable investment. The investor further alleged that the investment was misrepresented. The investor is seeking $500,000. 

FINRA Rule 2020 – Misrepresentation

FINRA Rule 2020 prohibits the misrepresentation of investments and omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and fees. Brokers must always disclose the risks associated with illiquid investments, such as early withdrawal fees. 

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, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Background Information 

Douglas Lode 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 

He is a registered broker and investment adviser in Kansas. He is also a registered broker in Iowa, Missouri, and Nebraska. 

During his 23 years of experience, Douglas Lode has registered with six firms: 

• Private Client Services (CRD #: 120222) 
• Prime Capital Investment Advisors (CRD #: 288712) 
• Cambridge Investment Research (CRD #: 39543) 
• Lawing Financial (CRD #: 117178) 
• The O.N. Equity Sales Company (CRD #: 2936) 
• Princor Financial Services Corporation (CRD #: 1137) 

Kurta Law Can Help 

If you have worked with Douglas Lode and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or 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.