Luis Garcia: Miami Advisor Had Suitability Complaint

Luis Garcia (CRD# 4143376), a Miami broker and financial advisor, recently received an investor complaint that was denied by his member firm. Financial Industry Regulatory Authority records show that he is a representative of Oppenheimer & Company. 

Mr. Garcia’s BrokerCheck report discloses a single investor complaint. Filed in January 2022, the complaint alleged that as a representative of Oppenheimer & Company, he recommended unsuitable investments in common and preferred stock products between 2019 and 2022. For reference, unsuitable investments are described by FINRA Rule 2111 as those inappropriate for a customer’s investment profile, which includes their investment objectives, investment experience, age, financial situation, other investments, risk tolerance, and liquidity needs. The complaint alleged damages of $74,000 before it was denied by the firm in February 2022.

According to the Financial Industry Regulatory Authority, Luis Garcia holds 22 years of securities industry experience. Based in Miami, Florida, he has been a representative of Oppenheimer & Company since 2015. His past registrations include RBC Capital Markets (Miami, Florida; 2013-2015) and Merrill Lynch (Miami, Florida; 2000-2013). His credentials include the passage of three securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He is licensed in California, Colorado, Florida, New York, Oregon, and Texas. His self-regulatory organization (SRO) registrations include the CBOE Exchange, FINRA, NYSE American, NYSE Arca, NYSE Chicago, Nasdaq ISE, Nasdaq PHLX, the Nasdaq Stock Market, and the New York Stock Exchange. (Information current as of May 17, 2022.)

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