The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Tennessee-based FTN Financial Securities broker Franklin Kennedy (CRD# 4549624).
Franklin Kennedy has spent thirteen years in the securities industry and has been registered with FTN Financial Securities in Memphis, Tennessee since 2002. FTN Financial Securities is a subsidiary of the First Tennessee Bank. Mr. Kennedy is a registered broker in fifteen US states and territories: Alabama, California, Colorado, Delaware, the District of Columbia, Georgia, Maryland, Massachusetts, Mississippi, New Jersey, North Carolina, Pennsylvania, Tennessee, Texas, and Virginia.
According to his BrokerCheck report, Franklin Kennedy is the subject of one customer complaint.
In 2012 a customer alleged Franklin Kennedy, while employed at FTN Financial Securities, misrepresented and omitted material facts, breached his fiduciary duty, recommended unsuitable investments, breached contract, committed common law fraud, and breached implied contract. The complaint resulted in an award to the customer of more than $11,571,500.
FINRA rules and federal securities law require financial advisors like Franklin Kennedy to abide by a standard called suitability, meaning they must recommend only investments that are suitable for their clients. Brokers and investment advisers must weigh such factors as the customer’s investment goals, experience, age, income, risk tolerance, and others. They may not misrepresent or omit material facts pertaining to an investment, as misrepresentations or omissions might lead a customer to invest unsuitably. Brokerage firms like FTN Financial Securities, meanwhile, have a supervisory duty to ensure that their brokers comply with these regulations. Brokers and firms who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Franklin Kennedy or FTN Financial Securities, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to collect your losses. All cases are taken on a contingency basis, which means Fitapelli Kurta only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.