Articles Tagged with Kestra Investment Services

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Anthony Seifert (Seifert), previously associated with Kestra Investment Services, LLC, has at least one disclosable event. These events include one tax lien, alleging that Seifert recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on January 23, 2025.

Without admitting or denying the findings, Seifert consented to the sanctions and to the entry of findings that he exercised discretion for transactions in customer accounts without their written authorization and without his member firm’s acceptance of the accounts as discretionary accounts. The findings stated that the customers knowingly permitted Seifert to exercise discretion.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Nicholas Ellis (Ellis), currently associated with Kestra Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Ellis recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $70,000.00 on February 12, 2025.

The customer alleges that in November of 2020, the Registered Representative recommended and misrepresented unsuitable, illiquid investments.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Holly (Holly), currently associated with Kestra Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Holly recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,281,000.00 on December 04, 2024.

Claimant is seeking additional relief based on claims from FINRA Arbitration 08-01045.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Walter Valenzuela (Valenzuela), currently associated with Kestra Investment Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Valenzuela recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000.00 on December 11, 2024.

Unsuitable Recommendation of high-risk municipal bonds

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joseph Darracq (Darracq), previously associated with Kestra Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Darracq recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $40,000.00 on December 30, 2024.

Claimant alleges the RR recommended an unsuitable Oil & Gas investment

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mitchell Walk (Walk), currently associated with Kestra Investment Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Walk recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on January 10, 2025.

Claimants allege an unsuitable recommendation for the purchase of a security.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Anthony Seifert (Seifert), previously associated with Kestra Investment Services, LLC, has at least one disclosable event. These events include one tax lien, alleging that Seifert recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on January 23, 2025.

Without admitting or denying the findings, Seifert consented to the sanctions and to the entry of findings that he exercised discretion for transactions in customer accounts without their written authorization and without his member firm’s acceptance of the accounts as discretionary accounts. The findings stated that the customers knowingly permitted Seifert to exercise discretion.

shutterstock_73854277-300x200The securities attorneys at Gana Weinstein LLP are currently investigating Kestra Investment Services, LLC (Kestra Investment) broker Steven Crawford (Crawford). According to BrokerCheck, Crawford has been subject to four customer disputes, one of which is still pending. The majority of these disputes concern the unsuitable recommendation of alternative investments, including Variable Universal Life polices (VULs), variable annuities, and Real Estate Investment Trusts (REITs).

Most recently, in April 2018, Crawford was subject to a customer complaint in which a customer alleged that in 2001, Crawford misrepresented a VUL contract by failing to disclose the fact that the premium payment was not fixed – and could substantially or materially change over time. In 2016, the premium rose and policy lapsed – resulting in customer losses. The customer has requested $622,903.05 in damages. This dispute is currently still pending,

In August 2017, a customer alleged that from June 2016 to August 2017, Crawford recommended the Allianz Index Advantage Variable Annuity to the customer which was unsuitable to the customer’s investment objectives.

In June 2011, a customer alleged that from August 2007 to March 2008, Crawford recommended an REIT investment that was an unsuitable investment to the customer. The customer had requested $9,500 in damages.

In addition, Crawford has been subject to bankruptcy. Bankruptcy is a potential sign that financial advisors are struggling with their finances. The Financial Industry Regulative Authority (FINRA) makes this information public so that investors can have a better sense of their brokers.

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shutterstock_156764942-200x300Securities attorneys from Gana Weinstein LLP are investigating Kestra Investment Services, LLC (Kestra Investment Services) broker Mitchell Walk (Walk).

According to BrokerCheck records, Walk has been subject to 5 customer complaints, 2 of which are still pending. The majority of these complaints regard unsuitable investment recommendations.

In August 2017, a customer alleged that Walk made unsuitable investment recommendations to the customer and that Kestra Investment Services failed to properly supervise this activity. The client has requested $72,000 in damages. This dispute is currently still pending.

shutterstock_20354398-300x200According to BrokerCheck records financial advisor Herbert Smith (Smith), currently associated with Kestra Investment Services, LLC (Ketra Investment), has been subject to one customer complaint and two tax liens.  According to records kept by The Financial Industry Regulatory Authority (FINRA) Smith has been accused by a customers of unsuitable investment advice concerning energy limited partnership investment among other claims.  The law offices of Gana Weinstein LLP continue to report on investor related losses and potential legal remedies due to recommendations to investor in oil and gas and commodities related investments.

In addition, Smith has been subject to two tax liens.  The first in May 2014 for $65,692 and the second in July 2016 for $69,542.  Tax liens can be sign that a broker may have a conflict of interest to recommend or engage in high risk trades and improper recommendations due to the need to obtain funds.  FINRA discloses tax liens information because it is important for investors to know whether or not a broker can manage their own finances.

Our firm is investigating potential securities claims against brokerage firms over sales practices related to the recommendations of oil & gas and commodities products such as exchange traded notes (ETNs), structured notes, private placements, master limited partnerships (MLPs), leveraged ETFs, mutual funds, and individual stocks.

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