Todd Coates Involved in 6-Figure Suitability Dispute

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Todd Coates (CRD# 2453725), a broker registered with Securities America, is involved in an investor dispute alleging unsuitable recommendations. MDF Law is investigating the Tyler, Texas-based financial professional for similar conduct. We encourage investors with concerns about their accounts to contact us for a free consultation.

To learn more about the allegations involving Mr. Coates, continue reading this post. The information herein is based on a January 2, 2024 review of his BrokerCheck profile, a Financial Industry Regulatory Authority (FINRA) record.

Pending Dispute Seeks $125,000

On October 25, 2023, an investor filed a dispute concerning Mr. Coates. It alleges that between 2016 and 2021, he recommended unsuitable real estate investments. The complaint, which remains pending, seeks $125,000 in damages. 

Why Brokers Must Recommend Suitable Investments

Under FINRA Rule 2111, brokers must tailor their investment recommendations to a customer’s background and objectives. The rule requires them to consider such factors as the customer’s tolerance for risk, their financial status and goals, and their liquidity needs. Recommendations that are not tailored to an investor’s profile are considered “unsuitable.”

What Is Navigation Financial Group?

As his BrokerCheck profile reflects, Mr. Coates does business under the brand Navigation Financial Group. That firm’s “About” page describes its “proactive” approach to servicing its clients, offering each one “undivided attention—from planning to execution to follow-up.” Mr. Coates’ page on the firm’s website describes his focus on individual investment management, retirement planning, tax planning, and other services. “My commitment,” a quotation attributed to him reads, “is to provide an exceptional level of customer service by listening to and addressing the specific needs, concerns, and goals of each client.”

FINRA: Todd Coates Based in Tyler, Texas

Todd Coates started his career as a broker in 1994. That year, he joined Legg Mason Wood Walker’s office in Baltimore, Maryland. Over the following years, he worked at a variety of firms, including Capital One Investments and LPL Financial. He joined Securities America in 2021 and has remained there since, working out of its branch office in Tyler, Texas. With 29 years of experience as a broker, he has completed two state securities law exams and two general industry/products exams. 

Investment Complaints? Contact MDF Law Today

Did you lose money working with Todd Coates? You may have recovery options. Contact MDF Law’s experienced broker fraud attorneys at 800-767-8040 for a free consultation. Our clients only pay a fee if they successfully collect lost funds, and we currently provide free consultations to investors nationwide. Your window to file a FINRA arbitration claim may be limited, so don’t delay: call MDF Law today.

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