The Securities Lawyers at Halling & Cayo, S.C. are looking into potential claims against Kevin Houser (CRD #2513167) regarding unsuitable investments. According to public records, there have been two recent allegations against Kevin Houser accusing the broker of unsuitable high-risk investments in Franklin Square BDC, Cole Credit Property, FSKR, FSEP, and CIM Real Estate Finance Trust. This broker is currently with Ameriprise Financial Services.
Kevin Houser has 2 customer disputes
Claim 1: February 2022
Allegations: Claimants allege that while they were at LPL, they were recommended the following unsuitable, speculative, high-risk investments: FSKR, FSEP, Cole Credit Property Trust IV, and CIM Real Estate Finance Trust.
Damage Amount Requested: $244,000.00
Claim 2: November 2020
Allegations: The claimant alleges that he invested in Franklin Square BDC, Cole Credit Property Trust IV, and CIM REIT upon his broker’s misleading recommendation which did not suit his allegedly conservative investment portfolio.
Damage Amount Requested: $358,000.00
If you were a client of Kevin Houser and LPL Financial LLC and lost money in your account, we are interested in discussing a potential claim with you. Brokerage firms like LPL Financial LLC 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 Kevin Houser, LPL Financial LLC 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 have been 2 complaints against Kevin Houser and LPL Financial LLC.
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 Kevin Houser and LPL Financial LLC 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.