Mark Cline (Mark Alan Cline CRD: #3206962) is a currently registered broker currently employed with National Securities Corporation (CRD#: 7569) of Wildwood, FL, employed since 2014. His previous employers include Great Nation Investment Corporation (CRD#:19981), United Equity Securities, LLC (CRD#:47261), and CCF Investments, Inc. (CRD#:136571), all of Fort Lauderdale, FL. Cline has a total of twelve state licenses and two SRO licenses. He has been in the industry since 1999.
From 12/11/2019 through 12/31/2019, a total of twelve customer disputes were filed against Cline alleging “suitability.” No other information is currently available on any of these disputes. There is no indication as to whether these disputes were for one client or multiple clients.
Stockrokers have a duty to make sure that ever recommendation is suitable for their customer or investor. In most cases, a fiduciary relationship is created because the client relies on the financial advisors advanced skills and resources to help manage a portfolio. Cline and his group, the Cline Financial Group, is located near the Villages, Florida a large well-known retirement community that caters to many older investors seeking conservative investments and/or income. A financial advisor must consider multiple factors in determining whether an investment is suitable, not only whether the investment is in the client’s interest but also, who the customer is. Some customer-specific suitability obligations include the investor’s:
- Age – As a person grows older and enters a new stage of life, the investors objective generally turn more conservative and the need for income increases.
- Other investments – other investments can impact the entire portfolio and the need for asset allocation.
- Financial resources – a person’s net worth and other resources can impact an investment decision
- Investment objectives – different people have different appetites for risk
- Time horizon – illiquid investments such as non-traded REIT’s may not be appropriate for an investor with a short time horizon
- Liquidity needs – investments may not be suitable for a person with significant short-term capital needs
- Risk tolerance – a stockbroker should listen to a client’s risk tolerance and not recommend investments that are contrary to an investors risk tolerance or objectives.
The Villages Securities And Investment Fraud Attorneys
Silver Law Group handles elder financial fraud cases against brokerage firms, stockbrokers and others for unsuitable recommendations. We have represented many investors in central Florida and The Villages. Our securities fraud attorneys appreciate the unique nature of the Villages and the needs of the residents. We can meet with you by phone, video conference or in person. We handle cases on a contingency fee basis, and we work with you to help make the process stress free.
Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.