According to FINRA, Justin William Pagel has been suspended from association with any FINRA member for 10 months for making unsuitable recommendations and willfully violating Regulation Best Interest.

When opening their accounts, three customers instructed Pagel to invest conservatively and informed him they planned to use the money for upcoming expenses such as home down payments or college tuition. Despite these explicit instructions, Pagel recommended they invest all or significant portions of their assets in low-priced stocks or other speculative securities.

The trading was inconsistent with customers' investment profiles and resulted in losses and customer complaints. Pagel and his firm made payments totaling $26,000 in connection with two complaints.

A fourth customer informed Pagel he wanted only safe investments, but Pagel recommended purchases of low-priced stocks and speculative securities inconsistent with the customer's profile, willfully violating Reg BI which requires recommendations to be in the customer's best interest.

Pagel also exercised discretion in customer accounts without written authorization, including in accounts he excessively traded. He further mismarked solicited trades as unsolicited, hiding his role in recommending the inappropriate transactions.

Investors should clearly communicate their investment objectives and risk tolerance, then monitor whether their portfolio reflects those goals. No monetary fine was imposed due to Pagel's financial status.