Anthony Seifert Fire from Kestra Investment Services Following AWC

Anthony Seifert (CRD #: 6514406), a broker formerly registered with Kestra Investment Services, has been suspended by FINRA, according to his BrokerCheck record, accessed on February 8, 2025. Read on if you have questions about his alleged conduct as a broker.

Termination from Kestra Investment Services

On January 31, 2025, Anthony Seifert was fired from Kestra Investment Services, allegedly as a result of the filing of a Letter of Acceptance, Waiver & Consent (AWC) by FINRA.

FINRA Suspension

On January 23, 2025, Anthony Seifert consented to the entry of findings that he allegedly executed at least 400 transactions in five client accounts without prior written authorization from January 2021 through March 2022.

According to a Letter of Acceptance, Waiver & Consent (AWC), Anthony Seifert allegedly had permission from clients to exercise discretion in their accounts, but did not have written authorization. Further, the firm had allegedly not accepted the accounts as discretionary.

The AWC concluded that these allegations constitute violations of FINRA Rules 3260(b) and 2010.

FINRA Rule 3260

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. The firm must also approve the designation of an account as discretionary before this trading can occur.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Anthony Seifert consented to the following sanctions:

• 20-business-day suspension from associating with FINRA members
• $5,000 fine

His suspension will run from February 18 to March 17, 2025. You can access the AWC here.

Termination from Merrill Lynch, Pierce, Fenner & Smith

On March 23, 2022, Anthony Seifert was fired from Merrill Lynch, Pierce, Fenner & Smith following allegations related to the exercise of time and price discretion in clients’ non-discretionary accounts and the use of a personal device for business.

Investor Dispute

On February 22, 2022, an investor alleged that Anthony Seifert executed unauthorized trades and made unsuitable investment recommendations starting in March 2021. This dispute was settled for $366,617.85.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles contain information about investors’ tax status, risk tolerance, investing experience and financial goals.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information

Anthony Seifert has passed the following exams:

• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Combined State Law Examination – Series 66

He previously worked for the following firms:

• Kestra Investment Services (CRD#:42046)
• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
• Sterne Agee Financial Services (CRD#:18456)

Kurta Law Can Help

If you worked with Anthony Seifert and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.