Category Archives: Kestra Investment Services

Thomas P. Hoover- Kestra Financial Broker-Discloses Customer Dispute-Wichita, KS

April 2017-Wichita, KS

The FINRA records of  Thomas P. Hoover ,  a  stockbroker who is previously  registered with Carey, Thomas, Hoover & Breault  disclose a customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In pending FINRA arbitration 16-1821 a customer of Hoover’s prior employer, Carey, Thomas, Hoover and Breault  (7/1995-10/2016) alleges damages of $100,000 for losses on a real estate investment trust (REIT) purchased in 2011.

Hoover has been registered with Kestra Investment Services since 10/2016.

If you have questions about an account handled by Thomas P. Hoover, call to learn about your options.

 

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Joshua E. Danforth-Kestra Investment Services Broker-Discloses Termination of Employment-Little Rock, AR

April 2017,  Little Rock, AR

According to publicly available records Joshua E. Danforth, (CRD# 4884480 ),  a  stockbroker who is currently registered with Austin, Texas based Kestra Investment Services discloses an employment separation after allegations.   

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Danforth was discharged from Merrill Lynch, Pierce, Fenner & Smith, Incorporated in May 2016 who made the following allegation in connection therewith: “conduct including alteration of client documents”.

Danforth has been employed by Kestra since 7/2016. He was employed by Merrill Lynch from 5/2005-6/2016.

If you have losses in an account handled by Joshua E. Danforth, contact us to learn how you may be entitled to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

 

Matthew T. Griffith-Kestra Investment Services-Discloses Pending Customer Dispute-San Diego, CA

.April 2017-San Diego, CA

According to publicly available records Matthew T. Griffith, (CRD# 4175049) ,  a  stockbroker who is currently registered with Austin TX based,  Kestra Investment Services discloses a currently pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In FINRA arbitration case #17-0186 a customer of Kestra Private Wealth Services alleges damages of $550,000 for unsuitable investments in equities during 2015.

Griffith has been employed by Kestra since 3/2014. Prior to that he was employed by Merrill Lynch.  Griffith discloses a business relationship with 1626 Wealth Management of San Diego.

If you have losses in an account handled by Matthew T. Griffith, contact us to learn how you may be entitled to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Joshua E. Danforth-Former Merrill Lynch Broker-Discloses Separation From Employment-Austin, TX

April 2017,  Austin, TX

According to publicly available records Joshua E. Danforth, (CRD#4884480),  a  stockbroker who is currently registered with Kestra Investment Services discloses an employment separation after allegations.   

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Danforth was discharged from Merrill Lynch, Pierce, Fenner & Smith, Incorporated in 5/2016 who made the following  allegation in connection therewith:   “Conduct including alteration of client documents”.

Danforth has been employed by Kestra Investment Services since 7/2016.

If you have losses in an account handled by Joshua E. Danforth, contact us to learn how you may be entitled to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Kestra Investment Services Discloses Regulatory Fines/ Arbitration Awards-Austin, Texas

April 2017-Austin, Texas

According to publicly available records Kestra Investment Services (formerly NFP ) , (CRD# 42046) ,  a  FINRA registered broker dealer headquartered in Austin, Texas,  discloses  10 prior final regulatory events and 4 prior customer arbitrations. Kestra has about 1,800 registered representatives in 639 branch offices.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Recent regulatory issues include:

  • In November 2016 Kestra Investment Services was censured and fined $475,000 and without admitting or denying FINRA’s allegations agreed to entry of findings that between October 2013 and June 2014 they failed to reasonably supervise brokers who recommended the purchase of multi-share class variable annuities. During the relevant time period Kestra sold 1,873 individual variable annuity contracts of $25,000 or greater, totalling over $280 million in principal investments.
  • In July 2016 Kestra was fined $100,000 by Massachusetts securities regulators for failure to register investment advisors who had a place of business in Massachusetts.
  • In July 2016, Kestra was censured and fined $500,000 by FINRA to resolve allegations that from December 2008-January 2014 they violated FINRA and SEC rules relating to the supervision of brokers dually registered with registered investment advisers, the preservation of emails and advertising and to timely update Form U-4.

Prior arbitration awards against Kestra Investment Services include:

  • In June 2014, an arbitration panel awarded $1.2 million to a customer who alleged breach of fiduciary duty, account activity, breach of contract and negligence in connection with the investment in annuities, municipal bonds, mutual funds and real estate investment trusts (REITs). FINRA arbitration 13-0430.

If you have losses in an account with  Kestra Investment Services , contact us to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Investacorp Broker Discharged for Failure to Follow Firm Policy-Austin, Texas

Austin, Texas

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

According to FINRA records,  Theodore M. Jenkin , currently a broker with Kestra Investment Services discloses that he was discharged by Investacorp, Inc. in 9/2015. Investacorp, Inc. alleged that the termination was due to “failure to follow rules and firm policy regarding approved investments”.

Jenkin has been registered with Kestra Investment Services since 9/2015. He was registered with Investacorp from 8/2008-9/2015.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870