Kerrie Coe Allegedly Sold Unsuitable Investments

Kerrie Coe (CRD# 4951159[1]), a broker registered with Wells Fargo, made unsuitable investment recommendations, according to an investor dispute. MDF Law is investigating the Indianapolis, Indianapolis-based financial professional for similar conduct. Investors with concerns about their accounts should contact our firm for a free, confidential consultation.

To learn more about the allegations against Ms. Coe, continue reading this post. The information herein is based on a January 15, 2025 review of her BrokerCheck profile, a Financial Industry Regulatory Authority record.

Pending Disputes Seek More Than $600,000

In 2024, two parties of investors filed disputes involving Ms. Coe. Both disputes allege that she recommended unsuitable investments, resulting in losses. One dispute seeks unspecified damages, while the other seeks $640,000 in damages. Both are still pending.

Kerrie Coe Denies Allegations

Ms. Coe issued a statement defending against one of the claims alleging unsuitable recommendations, according to her BrokerCheck profile. “The Advice given at the time was sound advice and well received by the staff,” the statement reads. “With a low interest rate environment the staff and myself looked at options to best grow the funds.”

What Is FINRA Rule 2111?

As FINRA Rule 2111[2] makes clear, brokers may only recommend investments which they have a “reasonable basis to believe” are suitable for their clients. They ascertain an investment’s suitability by evaluating the customer’s investment profile. This includes the client’s income, net worth, investment experience, investment goals, and other factors. The rule is similar to but distinct from the SEC’s Regulation Best Interest. Under this latter standard, advisers must perform “reasonable diligence, care, and skill” in examining the potential risks and rewards associated with their recommendations. Known as “Reg BI,” it also requires firms to create policies that help mitigate conflicts of interest and achieve regulatory compliance.

Wells Fargo Broker Offers Range of Services

Wells Fargo’s website includes a page dedicated to Ms. Coe[3]. In the page’s “My Commitment to You” section, she outlines the services she provides to her customers. “I can offer you a wide range of services, from helping you select individual investments to developing a retirement plan,” the section reads. “With access to a broad array of company resources — including research analysts and economic and market experts — I can help you make informed investment decisions based on your specific needs.”

FINRA: Broker Based in Indianapolis

Ms. Coe started working as a broker when she joined Banc One Securities Corporation’s Chicago office in 2005. She left the firm later that year for Chase Investment Services’ office in Indianapolis, Indiana. Over the following year, she went on to work at JP Morgan Securities and Cetera Investment Services. She departed Cetera in September 2024 for Wells Fargo’s Indianapolis office, where she remains today.

Investment Losses? You May Have Recovery Options

Current or former clients of Kerrie Coe with concerns about their investments may have recovery options. Call MDF Law[4] if your financial professional did not fully explain the risks of products in your account or otherwise recommended products that were inappropriate for your profile. Our clients only pay a fee if they collect lost funds, and our attorneys offer free consultations nationwide. Call 800-767-8040 to discuss your case today.