Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on December 25, 2016 indicate that New Jersey-based Ameriprise Financial Services broker/adviser Kevin Houser has been named in a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Houser (CRD# 2513167).
Kevin Houser has spent 22 years in the securities industry and has been registered with Ameriprise Financial Services in Bedminster, New Jersey since September 2016. Previous registrations include LPL Financial in Allentown, Pennsylvania (2008-2016); Wachovia Securities in Allentown, Pennsylvania (2004-2008); Citigroup Global Markets in New York, New York (2000-2004); and Merrill Lynch in New York, New York (1994-2000). He is a registered broker and investment adviser with nineteen US states and territories.
According to his BrokerCheck report, Kevin Houser has received one pending customer complaint.
In November 2016 a customer alleged Kevin Houser, while employed at LPL Financial, recommended unsuitable alternative investments. The customer is seeking $1,061,821 in damages in the pending complaint.
FINRA rules and federal securities law require brokers like Kevin Houser to recommend only investments that are suitable for their clients. The “suitability” standard considers factors including factors age, income, net worth, risk tolerance, investment goals, and investment experience. Brokers are not permitted to misrepresent or omit material facts pertaining to the product in a fashion that might cause clients to make unsuitable investments. Broker-dealer firms like LPL Financial have a supervisory duty to ensure that their brokers comply with these regulations. Brokers and firms who make unsuitable recommendations may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has complaints regarding Kevin Houser, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.