Kelvin Wong Allegedly Overconcentrated Client in Unsuitable Investments

Kelvin Wong (CRD #: 6100689), a broker previously registered with TD Ameritrade, is involved in a pending investor dispute, according to his BrokerCheck record, accessed on October 8, 2022. Keep reading if you want to know more about his conduct as a broker.

Investor Dispute

On July 26, 2022, an investor alleged that Kelvin Wong over-concentrated their portfolio in unsuitable and illiquid alternative investments, resulting in losses. The client seeks $200,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. These profiles contain information about an investor’s tax status, age, risk tolerance, and other characteristics.

Overconcentration in a certain sector or security may be unsuitable for investors due to the level of risk involved.

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

Background Information

Kelvin Wong 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

In the past, he worked for the following firms:

• TD Ameritrade (CRD#:7870)
• Scottrade (CRD#:8206)
• Bancwest Investment Services (CRD#:29357)
• Cetera Investment Services (CRD#:15340)
• J.P. Morgan Securities (CRD#:79)
• Chase Investment Services Corporation (CRD#:25574)

Kurta Law Can Help

If you worked with Kelvin Wong 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.