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Investors Allege Brian Kennedy Recommended Unsuitable Oil and Gas Investment

Jul 11, 2022 Energy Investments

Brian Kennedy (CRD #: 2321416), a broker registered with Cambridge Investment Research, is involved in two pending disputes, according to his BrokerCheck record, accessed on July 3, 2022. Investors may have also worked with this broker through Cambridge Investment Research Advisors. Read on if you want to know more about his conduct as a broker.

Investor Disputes

On June 6, 2022, an investor alleged that Brian Kennedy recommended an unsuitable oil and gas investment. 

This is not the first dispute of this type on his record. Two disputes, filed on April 5 and March 28, 2022, allege that Brian Kennedy recommended an unsuitable oil and gas investment. Both disputes are currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to consider whether an investment suits their investor’s financial goals when giving investment recommendations. Brokers must examine the characteristics described in an investor’s profile, including the following:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

Oil and Gas Investments 

Oil and gas prices are subject to extreme fluctuations. Energy securities are typically too volatile for the everyday investor. 

Discharge from Lincoln Financial Advisors

On September 26, 2018, Lincoln Financial Advisors fired Brian Kennedy for allegedly using former and current associates of his company to service non-securities policies he sold through an insurance carrier after that carrier terminated his appointment.

Background Information

Brian Kennedy has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Brian Kennedy is a registered broker in 18 states and a registered investment adviser in Pennsylvania and Texas.

He has also worked for the following firms:

  • Concourse Financial Group Securities (CRD#:15708)
  • Lincoln Financial Advisors (CRD#:3978)
  • ESI Financial Advisors (CRD#:265)
  • Equity Services (CRD#:265)
  • Pruco Securities (CRD#:5685)

Kurta Law Can Help

If you worked with Brian Kennedy 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 and 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.