Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on September 29, 2016 indicate that Ohio-based Stifel Nicolaus broker/adviser Kenneth Reeves has been the subject of customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Reeves (CRD# 1771786).
Kenneth Reeves has spent 28 years in the securities industry and has been registered with Stifel Nicolaus & Company in Westlake, Ohio since 2009. Previous registrations include Wachovia Securities in Beachwood, Ohio; AG Edwards & Sons in Beachwood, Ohio; Painewebber in Weehawken, New Jersey; and Kidder Peabody & Company in New York, New York. He is a registered broker and investment adviser with nineteen US states and territories: Alaska, Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Michigan, New Mexico, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Washington, and Wisconsin. According to his BrokerCheck report, Kenneth Reeves has received two customer complaints.
In 2015 a customer alleged Kenneth Reeves, while employed at Stifel Nicolaus & Company, committed fraud, negligently misrepresented material facts, and breached his fiduciary duty. The complaint settled in June 2016 for more than $10,200.
In 2013 a customer alleged Kenneth Reeves, while employed at Stifel Nicolaus & Company, breached his fiduciary duty, made unsuitable recommendations, misrepresented material facts, and committed fraud in connection to a mutual fund investment. The complaint resulted in an award to the customer of more than $65,700.
A mutual fund is a variety of investment that combines a collection of stocks, bonds, or other securities. The collection is referred to as a portfolio. Each share of a portfolio represents the investor’s ownership of the fund’s holdings and the income generated by these holdings. Mutual funds typically generate money for investors either by way of dividends on stocks and interests on bonds, or a capital gain on the sale of securities. Mutual funds also allow you to receive a check for the distributions or simply reinvest the earning into more shares. They are often inexpensive and easy to purchase; they also generally allocate risk well, and bring the benefit of professional management. However, they may also come with hidden fees, and trigger a capital gains tax when a fund manager sells a security. Brokers and investment advisers who engage in misconduct related to mutual fund investments may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you have lost money investing with Kenneth Reeves, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency, which means we only get paid if and when you collect money. You may have a limited window to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.