Principal Securities

Broker Kip Hutto in Principal Securities, Inc. Firm Has Customer Complaint

February 21, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on December 10, 2024.

Customer alleges the Variable universal Life Insurance policy he purchased in April 2014 was originally understood to be self-sustaining well into his 90’s with an annual premium of $400, however he now understand that the policy May lapse earlier than expected.

There are Recent Customer Complaints with Broker Michelle Gattis in Firm Principal Securities, Inc.

February 13, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michelle Gattis (Gattis), currently associated with Principal Securities, Inc., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Gattis 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 January 24, 2025.

Client alleges RR made misrepresentations in connection with a VUL policy purchased in 2021.

Advisor John Krohn Sanctioned Over $7.9 Million in Sales for Private Deals

August 28, 2018 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor John Krohn (Krohn), formerly associated with Principal Securities, Inc. (Principal Securities) in West Des Moines, Iowa was suspended and sanctioned concerning allegations that Krohn engaged in private securities transactions.

FINRA alleged that between April 2014 and January 2017, Krohn served as an officer or a director of four companies, including one that invested in early-stage and distressed companies. In addition, between December 2012 and December 2016, Krohn was alleged to have made more than two dozen purchases totaling $7.9 million of ten companies’ securities. FINRA alleged that Krohn did not notify Principal Securities about those transactions, his role in them, and whether he had received or expected to receive compensation. In addition, FINRA alleged that Krohn made some of those purchases through the investing company that he owned jointly with a customer.

Krohn disclosed a number of outside business activities including outside insurance business and tax preparation. In addition, Krohn also disclosed involvement with Domiknow as a board member, Spotlight Innovation, Inc., as a board member, Tax Saver Plus, and Cash Flow Structure Group.