Charles Kiker Embroiled in $4 Million Investor Dispute
Charles Kiker (CRD #: 2402823), a broker registered with Commonwealth Financial Network, is involved in an investor dispute, according to his BrokerCheck record, accessed on September 29, 2021. The investor is seeking over $4 million dollars. Investors who have concerns regarding Charles Kiker’s conduct as a broker should keep reading.
FINRA requires that brokers only recommend suitable investments. FINRA Rule 2111 defines suitable investments as investments that fit an investor’s risk tolerance, investment time horizon, financial goals, investing experience, and age. Brokers have access to this information through the investor’s profile.
- Investments can be too risky because they are likely to lose money, or because they are illiquid, meaning that they are meant to be held for an extended period of time and may be difficult to cash out.
- Securities must also be quantitatively suitable, meaning that brokers cannot execute an excessive number of trades.
- Suitability requirements apply to the investment strategy as well as the investments themselves.
On July 28, 2021, an investor alleged that Charles Kiker recommended unsuitable trades given his stated investment objectives. The investor is seeking $4,352,797; the dispute is pending.
Charles Kiker Background Information
Charles Kiker has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 6 Investment Company Products / Variable Contracts Representative Examination
He is a registered broker in 27 states and is a registered investment adviser in Illinois.
Charles Kiker has worked with the following firms:
- Commonwealth Financial Network (CRD #: 8032)
- EK&A (CRD #: 123817)
- MML Investors Services (CRD #: 10409)
- Northwestern Mutual Investment Services (CRD #: 2881)
- Robert W. Baird (CRD #: 8158)
Kurta Law Can Help
If you worked with Charles Kiker and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email firstname.lastname@example.org.