Matthew Lamb Allegedly Recommended Unsuitable ETFs

Matthew Lamb (CRD #: 6040125), a broker registered with LPL Financial, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on January 31, 2023. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On November 7, 2022, multiple investors filed a dispute alleging that Matthew Lamb made unsuitable recommendations to invest in a note and exchange-traded funds (ETFs) that did not fit the clients’ risk tolerance and profiles. The clients allege that this misconduct occurred between March 2021 and November 2022.

They seek $519,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must consult the investor’s profile, which describes their tax status, age, risk tolerance, and other information.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

What are exchange-traded funds?

Exchange-traded funds (ETFs) have some characteristics in common with mutual funds. Like mutual funds, ETFs generate returns from a bundle of underlying investments, like stocks, bonds, or currencies. But like stocks, an ETF’s value fluctuates depending on the market performance of their investments.

Background Information

Matthew Lamb has passed the following exams:

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

Matthew Lamb is a registered broker in 18 states and a registered investment adviser in Florida, New Hampshire, and Texas.

Kurta Law Can Help

If you worked with Matthew Lamb 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.