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Kelly Feehrer Fined and Suspended By FINRA

Jul 16, 2021 AWC

Kelly Feehrer (CRD #: 1470328), a broker registered with Merrill Lynch, Pierce, Fenner & Smith in Chattanooga, Tennessee, has agreed to a FINRA fine and a three-month suspension, according to his BrokerCheck record, accessed on July 2, 2021.

On June 25, 2021, Kelly Feehrer entered into an Acceptance, Waiver, and Consent agreement (AWC) with FINRA. In the AWC, Feehrer consented to the findings that he made unsuitable recommendations when he advised his investors to sell their Unit Investment Trust (UIT) shares before their maturity date.

UITs take time to mature, typically 15 or 24 months. Sponsors refer to their UIT offerings as “Series.” Investors can sell a UIT and use the proceeds to purchase another series – this is called a “series-to-series” rollover. These types of securities charge a variety of upfront sales charges. If an investor sells their UIT before the maturity date, they incur even more sales charges.

FINRA alleges that on multiple occasions, Feehrer recommended series-to-series rollovers that incurred unnecessary sales charges. As part of the AWC, Feehrer consented to a $5,000 fine and a three-month suspension.

Investor Dispute

There is another investor dispute on Kelly Feehrer’s record. On July 3, 2013, an investor alleged that Feehrer recommended unsuitable investments and made misrepresentations. The dispute settled for $14,999.

Kelly Feehrer Background Information

Feehrer 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 8 General Securities Sales Supervisor Examination (Options Module & General Module)

He is a registered broker in 14 states and a registered investment adviser in Tennessee and Texas.

Kelly Feehrer has worked for the following firms:

  • Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
  • Invest Financial Corporation (CRD #: 12984)

Kurta Law Can Help 

If you worked with Kelly Feehrer and you have concerns about your investments, contact Kurta Law today. Call 212-658-1502 or email jkurta@kurtalawfirm.com.