June 2019- Greenville, SC
According to publicly available records, former Independent Financial and Sandlapper Securities financial advisor Kyusun Kim, discloses 19 settled and 4 pending customer disputes and a termination from employment.
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 June 2018 FINRA (FINRA case 2017052705001) permanently barred Kim from the securities industry to resolve allegations that he made unsuitable recommendations to numerous senior customers, who were retiring or had retired. Kim recommended that these customers concentrate their retirement assets and liquid net worth in speculative and illiquid securities, according to FINRA. Kim failed to disclose to his customers the risks associated and as a result of these recommendations, Kim’s customers suffered substantial losses.
From December of 2007 until June 2013, 15 customers of Independent Financial Group brought cases alleging that Kim forged signatures, made unsuitable recommendation, misrepresentation, violated state and federal securities laws, committed elder abuse, and other wrongful conduct. These cases were collectively settled for over $3 million.
Between December 2016 and February 2018, four customers of Independent Financial Group filed cases alleging wrongful conduct, breach of fiduciary duty, breach of written contract, violations of federal and state securities laws in connection with investments, unsuitable investments, breach of oral and written contract. Total damages on these pending cases exceed 1 million.
Kim was employed by Sandlapper Wealth Management from March 2016 until August of 2018 when he was discharged. Kim was employed with Independent Financial Group in San Diego, CA from February of 2006 until March of 2016.
If you have losses in an account handled by Kyusun Kim, call to learn how you may be able 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.
Florida-561 391 1900