Ian Cook Allegedly Purchased Unsuitable Investments for Client

Ian Cook (CRD #: 4970473), a broker registered with Equitable Advisors, is the subject of a pending dispute, according to his BrokerCheck record, accessed on September 24, 2022. Keep reading if you have questions about his conduct as a broker.

Investor Disputes

In a pending dispute filed on August 18, 2022, an investor alleges that Ian Cook placed unsuitable investments in their account.

On October 23, 2019, an investor alleged that Ian Cook made an unsuitable recommendation in 2018 for the client to move funds from variable annuities to two investment securities plans.

The client further alleged that Ian Cook failed to fully disclose the terms, benefits, and charges related to these annuities and investment plans. The client sought $464,682 in damages but the dispute was denied by the firm.

However, investors should be aware that firms can deny disputes without an external review. Investors can still seek out FINRA arbitration after a denial and potentially recover their losses.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. These profiles describe investors’ age, financial goals, and risk tolerance.

Investors who believe they have lost money due to unsuitable investment recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deception, manipulation, and other fraudulent means of influencing the purchase and sale of securities. This includes the misrepresentation and omission of material facts concerning investments, including their requirements, limitations, and other features.

Background Information

Ian Cook has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

Ian Cook is a registered broker in 23 states and a registered investment adviser in six states.

Kurta Law Can Help

If you worked with Ian Cook 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.