The Securities Lawyers at Halling & Cayo, S.C. are looking into potential claims against Kelvern Chen (CRD #5679957) regarding unsuitable investments. According to public records there has been 1 recent claim against Kelvern Chen in regards to NorthStar Trust Contracts. This broker was also with TD Ameritrade from 2020-2021.
Kelvern Chen has 1 customer dispute as of May 2022
Claim 1: February 2022
Allegations: Statement of Claim alleges that Chen, in his capacity as an investment advisory representative, made an unsuitable recommendation to a claimant to purchase NorthStar Trust Contracts. The statement of claim alleges that the Northstar Trust Contracts were sold to claimant in 2018 through an investment advisory agreement.
Damage Amount Requested: $500,000.00
If you were a client of Kelvern Chen and Northwestern Mutual Investment Services and lost money in your account, we are interested in discussing a potential claim with you. Brokerage firms like Northwestern Mutual Investment Services have a responsibility to supervise all representatives who are registered through their firm. (See our video “Warning signs of a bad financial advisor”). Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. The brokerage firm is not only legally responsible for the acts of its agents, like Kelvern Chen, Northwestern Mutual Investment Services may also be liable for investment losses sustained by customers for a failure to supervise. The Securities Lawyers at Halling & Cayo, S.C. have recovered millions of dollars for investors across the country. (See our video “Do I need a lawyer for my FINRA Arbitration?”). Reviewing FINRA’s Broker Check, there has been 1 complaint against Kelvern Chen and Northwestern Mutual Investment Services.
Despite some volatility surrounding Covid, the S&P 500 has gained an average of more than 19% annual returns since 2019 and yet some investors, put into overly risky trading strategies, often despite promises of guaranteed returns, have lost significant sums. The Securities Lawyers are looking to bring claims on behalf of individual(s) and/or a group of investors for recovery of their funds. Most customers will have signed a FINRA arbitration agreement to resolve disputes, including claims for reimbursement of these types of investment losses. As the SEC reminds investors, it can be important to find an attorney that “specializes in resolving securities complaints.”
If you were a customer of Kelvern Chen and Northwestern Mutual Investment Services and suffered investment losses, please contact the Securities Lawyers. We only get paid if we recover your money. Your claim may be subject to a time limit or statute of limitations, so contact an attorney right away.
Sean M. Sweeney is a shareholder at Halling and Cayo, a full service law firm in Milwaukee, WI and the head of its Securities Litigation team.
He represents individual and institutional investors in FINRA arbitration and court nationwide. He recovers investment losses from fraud or breach of duty from their broker-dealer.