According to public records provided by the Financial Industry Regulatory Authority (FINRA) on February 16, 2016, Arizona-based Raymond James & Associates broker Karl Rothermund is the subject of a pending customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Rothermund (CRD# 849476).
Karl Rothermund has spent 37 years in the securities industry and has been registered with Raymond James & Associates in Scottsdale, Arizona since 2012. Previous registrations include Morgan Stanley Smith Barney in Scottsdale, Arizona; Morgan Stanley & Company in Scottsdale, Arizona; Citigroup Global Markets in Scottsdale, Arizona; Painewebber Incorporated in Weehawken, New Jersey; Shearson Lehman Hutton; EF Hutton & Company; and Merrill Lynch. Mr. Rothermund is a registered broker with fifteen US states and territories: Arizona, California, Colorado, Florida, Indiana, Kentucky, Missouri, Montana, New York, North Carolina, Ohio, Pennsylvania, South Dakota, Utah, and Washington.
According to his BrokerCheck report, Karl Rothermund is the subject of one pending customer complaint.
In August 2015 a customer alleged Karl Rothermund, while employed at Raymond James & Associates, breached his fiduciary duty and acted negligently between April 2014 and July 2015. The customer is seeking $150,000 in damages in the pending complaint.
FINRA rules and federal securities law state that brokers like Karl Rothermund have a fiduciary duty to act in their clients’ best interests. This includes a duty to recommend only investments that are suitable for their clients. Brokers must consider such factors as age, investment experience, investment goals, and risk tolerance. They are not permitted to omit or misrepresent material facts in such a manner that the client might make and unsuitable investment. Brokerage firms like Raymond James & Associates have a supervisory duty to ensure their brokers comply with these regulations. Brokers and firms who engage in misrepresentation and/or unsuitability subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has lost money investing with Karl Rothermund, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.