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Kelly Waring Allegedly Recommended an Unsuitable BDC and REIT

Mar 15, 2022 Business Development Company

Kelly Waring (CRD #: 1199855), a broker registered with LPL Financial, faced an investor dispute in 2021. This is according to her BrokerCheck record, accessed on March 1, 2022.

On November 18, 2021, an investor alleged that Kelly Waring recommended unsuitable investments. This included two business development companies and a REIT. The investor is seeking to recover $106,000 plus 9% interest. The dispute was denied, but investors should know that investors can recover their losses following a denial.

What are BDCs?

A Business Development Company (BDC) is a domestic, closed-end investment company that is operated for the purpose of making equity and debt investments in small and developing businesses, as well as financially troubled businesses. BDCs can be speculative investments that involve significant risks. As a result, BDCs may not be suitable for all investors.

What are REITs?

A real estate investment trust (REIT) is an entity that holds a portfolio of income-producing real estate properties. By putting their money into a REIT, investors can own a share of those properties. REITs can be unsuitable due to their illiquid nature. Many REITs expect investors to keep their money in the investments for an extended period. REITs may also be unsuitable based on their underlying real estate investments.

If you lost money in unsuitable REITs or BDCs, you might have a viable claim against your broker or broker-dealer, and you should not hesitate to contact the securities attorneys of Kurta Law. 

Background Information

Kelly Waring 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 24 General Securities Principal Examination

She is a registered broker in 11 states and is a registered investment adviser in Arizona and Texas.

Kelly Waring has worked with the following firms:

  • LPL Financial (CRD #: 6413)
  • W&H And Associates (CRD #: 125154)
  • Jones International Securities (CRD #: 13288)
  • Private Ledger Financial Services (CRD #: 6413)

 

Kurta Law Can Help

If you have worked with Kelly Waring 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 on behalf of investors who have lost money following broker fraud or misconduct. Kurta Law is a nationally recognized law firm and exclusively represents investors on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Our attorneys will work tirelessly to restore your lost funds and get your financial future back on track.