Cary Urich Settled Leveraged ETF Disputes At United Planners' Financial

BrokerCheck ties each customer dispute on Cary Urich's report (CRD 2132001) to United Planners' Financial. Both involved leveraged or inverse ETFs, and both settled. One closed on August 29, 2023, for $450,000, and the other on September 13, 2024, for $325,000. A settlement is not an admission of wrongdoing.

Cary Urich And The June 2024 Inverse ETF Dispute

Filed June 11, 2024, this dispute listed alleged damages of $710,000. Its disclosure names unsuitability, breach of fiduciary duty, negligence and deception. Cary Urich's report labels the product a leveraged or inverse ETF.

Cary Urich's 2022 Claim Citing FINRA Rule 2111 And 3030

The earlier claim, docket 22-01463, began on July 11, 2022, and listed alleged damages of $1,000,000. It alleged unsuitability, material misrepresentation and omissions, wrongful acts and self-dealing.

The claim also raised breach of common law, breach of fiduciary duty, and breach of good faith and fair dealing. In addition, Cary Urich's disclosure lists a violation of FINRA Rule 2111 and 3030 among the allegations.

How Leveraged And Inverse ETFs Reset Each Day

A leveraged ETF aims to multiply the daily return of an index. An inverse ETF aims for the opposite of that daily return. Both reset every trading day.

Because of that reset, results over longer periods can drift away from what a buyer expects. Flat but choppy markets can wear down value through daily compounding.

When we review a claim over a leveraged fund, we start with how long the customer held it. We also look at the share of the account it took. This background is general and says nothing about the trades in the Cary Urich disputes.

How Deception And Self-Dealing Allegations Differ From Suitability

A suitability allegation asks whether a recommendation fit the customer. A deception or misrepresentation allegation looks instead at what the broker said or left out. Self-dealing allegations ask whether someone put a personal interest ahead of the client's.

Each theory calls for different proof, so a single claim often pleads more than one. The disputes on Cary Urich's report each list several, and neither reached a ruling on them.

What FINRA Rule 2111 Requires

Under FINRA Rule 2111, a broker needs a reasonable basis to believe a recommendation is suitable for the customer. That judgment has to rest on the customer's investment profile. It covers facts such as age, financial situation, investment objectives and risk tolerance.

Questions About An Account Handled By Cary Urich?

FINRA member firms must supervise the activities of their brokers. If you have questions about an account that Cary Urich handled, call Soreide Law Group at (888) 760-6552. You can also reach us online to speak with a securities attorney. FINRA arbitration is a national forum, so we represent investors in FINRA arbitration across the country. We handle these claims on a contingency fee basis. Learn how FINRA arbitration works.

Sources

• FINRA BrokerCheck report for Cary E. Urich (CRD 2132001)

This post summarizes public FINRA records, including BrokerCheck, as of November 4, 2026. Allegations in customer complaints and arbitrations are claims, not findings. A settlement is also not an admission of wrongdoing. FINRA may also update or correct these records after that date.