Articles Tagged with Kestra Investment Services

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Jamal ThompsonPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 1, 2017 indicate that California-based Kestra Investment Services broker/adviser Jamal Thompson is involved in a pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Thompson (CRD# 4690422).

Jamal Thompson has spent 14 years in the securities industry and has been registered Kestra Investment Services in Woodland Hills, California since 2014. Previous registrations include LPL Financial in Woodland Hills, California (2012-2014); Wells Fargo Advisors in Woodland Hills, California (2007-2012); and MML Investors Services in Castaic, California (2003-2007). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on August 9, 2005; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on August 6, 2003; Series 3 (National Commodity Futures Examination), which he obtained on December 22, 2007; Series 7 (General Securities Representative Examination), which he obtained on June 28, 2007; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on September 13, 2003. He is a registered broker and investment adviser with 13 US states and territories: Arizona, California, Colorado, Florida, Kentucky, Nevada, New York, North Carolina, Ohio, Pennsylvania, Texas, Virginia, and Wisconsin.

According to his BrokerCheck report, he has received one pending customer complaint.

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Ann FenwickPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on April 25, 2017 indicate that Maryland-based Kestra Investment Services broker/adviser Ann Fenwick has been the subject of customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Ms. Fenwick (CRD# 1535605).

Ann Fenwick has spent 29 years in the securities industry and has been registered with Kestra Investment Services in Towson, Maryland since 2000. Previous registrations include Mony Securities in New York, New York (1991-2000); H. Beck in Bethesda, Maryland (1991); and Cigna Securities in Radnor, Pennsylvania. She has passed five securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination); Series 7 (General Securities Representative Examination); Series 22 (Direct Participation Programs Representative Examination); Series 62 (Corporate Securities Limited Representative Examination): and Series 6 (Investment Company Products/Variable Contracts Representative Examination).

According to her BrokerCheck report, she has received two customer complaints and one denied complaint.

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VOYAAccording to publicly available records released by the Financial Industry Regulatory Authority (FINRA) on November 2, 2016, and accessed on February 3, 2017, FINRA has sanctioned eight broker-dealer firms in connection to alleged sales variable annuity sales violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding the firms in question: VOYA Financial Advisors, Cetera Advisor Networks, Cetera Financial Specialists, First Allied Securities, Summit Brokerage Services, VSR Financial Services, Kestra Investment Services, and FTB Advisors.

FINRA’s release alleges that the firms failed to supervise the sales of variable annuity products. According to the complaint: “The L-share VAs at the heart of this action are complex investment products combining insurance and security features designed for short-term investors willing to pay higher fees in exchange for shorter surrender periods. L-shares also had the potential to pay greater compensation to the firms and registered representatives than more traditional share classes. Each of the firms in this action lacked an adequate system to supervise variable annuities with multiple share classes, and failed to provide its registered representatives and principals with reasonable guidance regarding the narrow class of customers for whom the costs and features of L-share variable annuities were suitable.”

The release goes on to say that the alleged failures were “compounded” when the L-shares were often sold with “complex and expensive guaranteed income and withdrawal riders that provided benefits only over longer holding periods.” VOYA, as well as four Cetera Group firms, allegedly failed to notify red flags of “broad patterns of potentially unsuitable sales of this product combination.”

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George RobertsonPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on January 13, 2017 indicate that former Connecticut-based Kestra Investment Services broker/adviser George Robertson recently resigned from his former employer following allegations of misconduct. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Robertson (CRD# 1026646).

George Robertson has spent six years in the securities industry and was most recently registered with Kestra Investment Services in Darien, Connecticut (2015-2016). Previous registrations include Yamaichi International; Jamie Securities; and Salomon Brothers. He is currently not registered with any state or firm.

According to his BrokerCheck report, George Robertson recently resigned from Kestra Investment Services and has received two unsatisfied tax liens.