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Keith Patterson Embroiled in Second Unsuitability Dispute of 2021

Dec 20, 2021 Investor Disputes

Keith Patterson (CRD #:2131574), a broker registered with Avantax Investment Services, is involved in his 2nd unsuitability dispute in 2021, according to his BrokerCheck record, accessed on November 24, 2021.  He is also a registered investment advisor with Avantax Advisory Services. 

Pending Disputes  

Keith Patterson has two pending disputes in 2021.

  1. On August 5, 2021, a dispute was filed against Keith Patterson alleging the unsuitability of alternative investment, which allegedly caused financial harm. Other allegations include fraud, breach of contract, breach of fiduciary duty, negligence, and violation of laws. 
  2. On May 21, 2021, Keith Patterson was involved in another unsuitability dispute, among other allegations including breach of contract and warranties, promissory estoppel, violation of rules, violation of laws, breach of fiduciary duty, and negligence. The investor is seeking $100,000; the dispute is pending.  

Settled disputes:  

  1. On June 9, 2020, an investor alleged Keith Patterson recommended unsuitable REITs and BDCs. BDCs can be especially risky, and the investor is in retirement. Investors should always consider their investor’s financial needs before recommending securities. The case settled for $90,000.  
  1. On August 1, 2006, a dispute was filed against Keith Patterson alleging misrepresentation, breach of fiduciary duty, violation of Texas Securities Act, Texas Common Law Fraud, Violation Of Texas Business And Commercial Code, breach of contract, negligence. The case was settled for $60,000. 

Background Information 

Keith Patterson has passed the following exams: 

  • Series 63 - Uniform Securities Agent State Law Examination 
  • SIE - Securities Industry Essentials Examination 
  • Series 7 - General Securities Representative Examination 
  • Series 51 - Municipal Fund Securities Principal Examination 
  • Series 24 - General Securities Principal Examination 

Keith Patterson is a registered broker in 11 states. He is also a registered investment adviser in Texas. 

Besides Avantax Investment Services and Avantax Advisory Services, Keith Patterson has worked with the following firms:   

  • Securities America Advisors (CRD#:110518) 
  • Securities America (CRD#:10205) 
  • Investacorp Advisory Services (CRD#:109011) 
  • Investacorp (CRD#:7684) 
  • Geneos Wealth Management (CRD#:120894) 
  • Next Financial Group (CRD#:46214) 
  • Linsco/Private Ledger Corp. (CRD#:6413) 
  • UBS PaineWebber (CRD#:8174) 
  • Salomon Smith Barney (CRD#:7059) 
  • Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) 
  • Dean Witter Reynolds (CRD#:7556 

Kurta Law Can Help 

If you have worked with Keith Patterson and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com 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.