Investor Seeks $500,000 in Damages in Kelvern Chen Dispute

Kelvern Chen (CRD #: 5679957), a broker registered with Northwestern Mutual Investment Services, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on April 11, 2022. If you want to learn more about Kelvern Chen’s conduct as a broker, keep reading.

Unsuitable Investment Recommendation Allegations

In a dispute filed on February 11, 2022, an investor claims Kelvern Chen made an unsuitable recommendation to buy NorthStar Trust Contracts while he worked at Raymond James and, later, UNFCU Advisors. The investor allegedly bought these contracts in 2018 through an investment advisory agreement. They seek $500,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to their clients’ profiles. Investors’ profiles contain information such as their age, tax status, and risk tolerance. Investors can potentially recover money lost through unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information

Kelvern Chen has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Kelvern Chen is a registered broker in New York and a registered investment adviser in New Jersey.

He has also worked for the following firms:

• TD Ameritrade Investment Management (CRD#:111514)
• TD Ameritrade (CRD#:7870)
• Santander Securities (CRD#:41791)
• UNFCU Advisors (CRD#:136572)
• CommunityAmerica Financial Solutions (CRD#:168203)
• Raymond James Financial Services Advisors (CRD#:149018)
• Raymond James Financial Services (CRD#:6694)
• Amerivest Investment Management (CRD#:111514)
• TD Ameritrade (CRD#:7870)
• National Planning Corporation (CRD#:29604)

Kurta Law Can Help

If you worked with Kelvern Chen 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.