Jim Kekeris Involved in Suitability Dispute

Jim Kekeris (CRD #: 1453262), a broker registered with Moloney Securities Company, is involved in a pending dispute, according to his BrokerCheck record, accessed on June 15, 2023. Investors may have also engaged his services through Moloney Securities Asset Management. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On May 2, 2023, an investor filed a dispute alleging that James Kekeris engaged in negligence and violated the suitability rule from 2015-2023. The client seeks $750,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must take into account an investor’s age, risk tolerance, tax status, and other information described in their profile.

Some common violations of this rule include:

• Recommendations of high-risk investments, which are more likely to result in losses.
• Recommendation of illiquid investments. These investments are intended to be held long-term, so selling early can incur high fees for an investor.
• Excessive trading, also known as churning, which violates the requirement for quantitative suitability.
• Recommendations of unsuitable investment strategies. For instance, overconcentration in a single sector or stock is typically unsuitable due to the degree of risk.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

What is broker negligence?

Brokers may act in many negligent ways, ranging from misrepresenting material facts to executing unauthorized trades. Investors who feel their losses are the result of broker negligence may be able to recover their funds by pursuing FINRA arbitration.

Background Information

Jim Kekeris 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 15 – Foreign Currency Options Examination
• Series 3 – National Commodity Futures Examination
• Series 5 – Interest Rate Options Examination
• Series 24 – General Securities Principal Examination

Jim Kekeris is a registered broker in 37 states and a registered investment adviser in Missouri.

He has also worked for the following firms:

• Moloney Investment Advisory (CRD#:282140)
• Ameritas Investment Corporation (CRD#:14869)
• Oppenheimer & Company (CRD#:630)
• Prudential Securities (CRD#:7471)
• Kemper Securities Group (CRD#:19616)
• Blunt Ellis & Loewi (CRD#:7580)
• Drexel Burnham Lambert (CRD#:7323)

Kurta Law Can Help

If you worked with Jim Kekeris 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.