Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on March 8, 2017 indicate that California-based Merrill Lynch broker/adviser Kevin Schaefer has received resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Schaefer (CRD# 1286030).
Kevin Schaefer has spent twelve years in the securities industry and has been registered with Merrill Lynch in San Francisco, California since 2011. Previous registrations include Morgan Stanley Smith Barney in San Francisco, California; Morgan Stanley & Company in San Francisco, California; Morgan Stanley DW in San Francisco, California; UBS Financial Services in San Francisco, California; Smith Barney Shearson in New York, New York; Lehman Brothers in New York, New York; and Derand Investment Corporation of America. He is a registered broker and investment adviser with 28 US states and territories.
According to his BrokerCheck report, he has received two customer complaints and one pending customer complaint.
In January 2017 a customer alleged Kevin Schaefer, while employed at Merrill Lynch, misrepresented and recommended unsuitable investments. The customer is seeking unspecified damages in the pending complaint.
In 2008 a customer alleged Kevin Schaefer, while employed at UBS Financial Services, sold an investment in auction rate securities prior to the widespread breakdown in liquidity in the auction rate securities market. The complaint settled with the firm’s repurchase of the securities at par value, for $600,000.
In 1996 a customer alleged Kevin Schaefer, while employed at Painewebber, omitted material facts, breached his fiduciary duty, misrepresented material facts, and failed to supervise the account. The complaint settled for $14,000.
If you have lost money investing with Kevin Schaefer, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. 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.