Gerard Patin Allegedly Traded in Unsuitable Stocks

Gerard Patin (CRD #: 4846306), a broker registered with Cetera Advisors, allegedly made unsuitable trades, according to his BrokerCheck record, accessed on December 26, 2022. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On November 3, 2022, an investor alleged that Gerard Patin traded in stocks that were unsuitable given the client’s risk tolerance and failed to “adequately represent her financial interest” between June 2018 and January 2020. The firm denied this dispute.

Investors should know, however, that firms don’t need to permit an outside review before denying a dispute. Investors can still pursue FINRA arbitration following a denial and may be able to recoup their losses.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently fit an investor’s financial goals. Brokers must take into account the information contained in the investor’s profile, including the following client characteristics:

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

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their funds by pursuing FINRA arbitration.

Background Information

Gerard Patin has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Gerard Patin is a registered broker in 11 states and the Virgin Islands. He is also a registered investment adviser in Louisiana and Texas.

He has also worked for the following firms:

• MML Investors Services (CRD#:10409)
• MSI Financial Services (CRD#:14251)
• Metropolitan Life Insurance Company (CRD#:4095)

Kurta Law Can Help

If you worked with Gerard Patin 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.