Did you lose money investing with Robert Binkele (CRD# 2393598)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Robert Binkele. If you suffered losses investing with Robert Binkele, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
UPDATE 4/9/2020: Robert Binkele has successfully expunged two customer disputes from his CRD record, which no longer appear on his BrokerCheck Report. The case numbers for the expungements are: 18-03332 and 17-03006.
UPDATE 8/15/2019: Robert Binkele is currently being investigated by the State of Washington Department of Financial Institutions in connection with Deferred Sales Trust transaction(s) with Washington residents.
As of May 13, 2020, Robert Binkele’s FINRA BrokerCheck Report contains the following:
4 Customer Dispute(s)
1 Employment Separation After Allegations
1 Criminal Disclosure(s)
Current and Previous Registrations
10/30/2015 – 08/30/2019 CENTAURUS FINANCIAL, INC. (CRD#:30833) INDIAN WELLS, CA
07/03/2007 – 10/30/2015 J.P. TURNER & COMPANY, L.L.C. (CRD#:43177) INDIAN WELLS, CA
01/15/2003 – 07/12/2007 BROOKSTREET SECURITIES CORPORATION (CRD#:14667) PALM DESERT, CA
02/17/1998 – 12/31/2002 RAYMOND JAMES FINANCIAL SERVICES, INC. (CRD#:6694) ST. PETERSBURG, FL
12/23/1996 – 12/23/1997 SPELMAN & CO., INC. (CRD#:10232) PHOENIX, AZ
12/15/1994 – 01/03/1997 ASH & CO. INCORPORATED (CRD#:24990) GREAT NECK, NY
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability.
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This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.