Securities Lawyers Blog
Investors researching Hornor, Townsend & Kent, LLC often want to know about the firm’s regulatory history before deciding whether to speak with a lawyer. This page summarizes the FINRA disciplinary actions in which Hornor, Townsend & Kent, LLC was named. The securities fraud attorneys at Gana Weinstein LLP represent investors in claims against brokerage firms and financial advisors for investment fraud, unsuitable investment recommendations, excessive trading, and failure to supervise, and we can review the firm’s record together with your account statements to determine whether you have a claim.
Hornor, Townsend & Kent is a broker-dealer and registered investment adviser that serves as a home office for independent financial professionals, offering commission and fee-based brokerage, financial planning, wealth management, retirement planning, annuities and life insurance. Founded in 1969 and headquartered in Horsham, Pennsylvania, the firm has long been affiliated with The Penn Mutual Life Insurance Company and supports advisory offices across the United States.
Hornor, Townsend & Kent, LLC – By the Numbers:
- CRD #: 4031
- Regulatory Events: 11
- Arbitration Events: 6
- Broker Employees: 735
Hornor, Townsend & Kent, LLC – Investment Advisors:
- SEC #: 56151
- Assets Under Management: $9,014,857,753
- ADV Form Employee: 485
Hornor, Townsend & Kent, LLC – In the News:
FINRA v. Hornor, Townsend & Kent, LLC (Case #2018059743301) – From July 2013 through March 2016, HTK failed to reasonably supervise a registered representative (RR 1) who sold securities associated with a disclosed, but unapproved, outside business activity. The firm failed to timely review RR 1’s request in July 2013 to engage in an outside business activity involving the sale of a security. When the firm decided approximately seven months later to deny the request, it failed to communicate its decision to RR 1. In his notice to the firm, RR 1 stated he intended to begin engaging in the sales of this product by July 20, 2013. Despite being on notice of this intention, the firm failed to reasonably investigate whether RR 1 had commenced selling the security. By virtue of the foregoing, the firm violated NASD Rule 3010 and FINRA Rules 3110 and 2010.
FINRA v. Hornor, Townsend & Kent, LLC (Case #2015043387001) – From April 2013 to June 2015 (the “Relevant Period”), HTK failed to reasonably supervise representatives’ sale of multi-share class variable annuities (“VAs”), and failed to provide training to its representatives and principals on the sale and supervision of multi-share class VAs. Based on the foregoing, HTK violated NASD Rule 3010(a) and (b) and FINRA Rules 2330(d) and (e), 3110(a) and (b) and 2010. Also, during the Relevant Period, HTK failed to adequately supervise representatives’ private securities transactions. Based on the foregoing, HTK violated NASD Rules 3010(a) and (b) and 3040 and FINRA Rules 3110(a) and (b) and 2010.
Elder financial abuse and exploitation of elderly investors are among the claims our firm pursues most vigorously. If you or a family member suffered investment losses because of a financial advisor at Hornor, Townsend & Kent, LLC, the attorneys at Gana Weinstein LLP are available for a free consultation.