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Chadwick Collins Involved in $2.3 Million Investor Dispute

Chadwick Collins (CRD #: 2597677), a broker registered with Kestra Investment Services, is facing a pending dispute, according to his BrokerCheck record, accessed on January 15, 2022.

According to the allegations filed on November 22, 2021, Chadwick Collins was neglectful and reckless with the management of his client’s portfolio from 2017 until 2021. The investor is seeking $2,375,000一the case is pending. This is not his first investor dispute.

Pending Cases

  • On November 9, 2021, Chadwick Collins was involved in an investor dispute alleging account losses in IRA and Trust due to a lack of fiduciary responsibility and margin activity. The investor is seeking $1,000,000.
  • On June 15, 2021, Chadwick Collins allegedly made unsuitable recommendations and investments inconsistent with his client’s investment profile. Additionally, the client alleges that he recommended his client to replace an employer-sponsored term life policy with an IUL policy without providing material information, including the true cost of the premiums. The investor is seeking $600,000. 

Settled Case

On June 10, 2013, Chadwick Collins was involved in an investor dispute alleging excessive trading and unsuitable investment recommendations from 2006 to 2009. The case was settled for $150,000.

What is Excessive Trading?

Churning is another term for excessive trading, which occurs when brokers execute trades simply for the sake of generating commissions for themselves, without any financial benefit for their investors. It is prohibited under FINRA Rule 2111, under “quantitative suitability.” Quantitative suitability means the number of trades must fit the investor’s needs. 

Chadwick Collins Employment Termination

On June 8, 2009, Chadwick Collins was fired from his position at Merrill Lynch, Pierce, Fenner & Smith after allegedly violating the firm’s policy regarding short-term mutual fund trading and having checks in his personal account returned for insufficient funds.

Background Information

Chadwick Collins 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 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination

Hes is a registered broker in ten states. He is also a registered investment advisor in Texas and California. 

Chadwick Collins has also worked with Wells Fargo Clearing Services (CRD#:19616) and Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691). 

Kurta Law Can Help

If you have worked with Chadwick Collins and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors 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.