Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 3, 2016 indicate that Minnesota-based Cetera Investment Services broker/adviser Kevin Larson has received a customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Larson (CRD# 3067781).
Kevin Larson has spent 17 years in the securities industry and has been registered with Cetera Investment Services in Saint Cloud, Minnesota since 2014. Previous registrations include Fintegra in Minneapolis, Minnesota (2007-2014); Thrivent Investment Management in Minneapolis, Minnesota (2002-2007); and Lutheran Brotherhood Securities in Minneapolis, Minnesota (1998-2002). He is a registered broker and investment adviser in Minnesota.
According to his BrokerCheck report, Kevin Larson has been the subject of one customer complaint.
In 2014, a customer alleged that Kevin Larson, while employed at Fintegra, engaged in selling away and recommended an unsuitable investment. The complaint settled in February 2016 for $125,000.
“Selling away” refers to the purchase, solicitation, or sale by a broker of securities not offered by his/her member firm. Such transactions are typically also not included in the firm’s official records. Both FINRA rules and federal securities law forbid selling away; perhaps the most important regulatory codification with respect to selling away is FINRA Rule 3040, which states that “No person associated with a member shall participate in any manner in a private securities transaction” unless the transaction complies with numerous terms, including written authorization from the member firm. Investment professionals who engage in selling away may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has lost money investing with Kevin Larson, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recover your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. You may have a limited window to file your claim, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.