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Did Kenneth Beber Recommend Unsuitable Investments?

Jun 7, 2022 Unsuitable Investments

Kenneth Beber (CRD #: 4257664), a broker registered with Independent Financial Group, is facing an investor dispute. This is according to his BrokerCheck record, accessed on May 24, 2022.

On February 14, 2022, an investor alleged that Kenneth Beber recommended an investment that was not in line with the client’s stated objectives. The investor is seeking $100,000 in this pending dispute.

What is an Unsuitable Investment?

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age. Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

  • Investments can be unsuitable because they are high risk and likely to lose money.
  • Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
  • Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.

These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.

Background Information

Kenneth Beber 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

He is a registered broker in 16 states and is a registered investment adviser in Texas and California.

Kenneth Beber has registered with the following firms:

  • Investors Capital Advisory (CRD #: 30613)
  • National Planning Corporation (CRD #: 29604)

Kurta Law Can Help

If you worked with Kenneth Berber and have concerns about your investments, please 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 recovering their investment losses from stockbrokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors. We work on a contingency basis, which means that the firm only earns a fee if our securities attorneys recover money on your behalf. Reach out and we can tell you what steps to take to restore your lost funds.