I do not believe that a broker can make that decision for you. That being said he can advise against it but if you want to buy it he MUST FOLLOW YOUR DIRECTION. Failure to do so can result in liability damages especially if the stock were to go up. He could put the brokerage house as well as himself in the ability to continue in that venture.
Actually, he can. Brokers get to pick and choose what securities they broker. And they can control when and how you can trade it. They just can't lie to you about it. Depending on the class of account you have, you may be limited to just a few securities. I have one 401K in which I can choose from only about 30 investments, and a dozen of those are age-weighted funds (for those retiring in 2035, 2040, etc.)
Unless you're locked into using EJ for something, you can always tell them to go screw themselves and move your money anywhere else you're eligible to go. I recommend against E*Trade, though. They made a mockery of the concept of data reliability this tax season. I will almost certainly be with another broker by the end of the year.
That's exactly why I closed my account with them.Their fees are outrageous,it cost a few hundred in commission to buy or sell anything.The advise I get from this MB is worth much more than any info they ever gave me;they only want to steer you into products they can get ongoing fees from.Dump them and go with Scottrade.
I have had a long run with Fidelity. No maintenance fees and only $7.95 a trade. They have excellent research tools (And you should do YOUR OWN research), and the trades are executed instantly. I dumped TD Ameritrade years ago. I'd put in a buy order and it'd always be filed at the high for the day and my sells were always at the low. Not a problem with Fidelity.