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Investor Alleges Kenneth New Recommended Unsuitable Investment

Aug 12, 2022 Unsuitable Investments

Kenneth New (CRD #: 2836918), a broker registered with Center Street Securities, is the subject of a pending dispute, according to his BrokerCheck record, accessed on July 28, 2022. Investors may also have worked with him through Center Street Advisors. If you have questions about Kenneth New’s conduct as a broker, keep reading.

Investor Dispute

On June 8, 2022, an investor alleged that Kenneth new recommended an unsuitable investment. The client seeks $50,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consider the following characteristics described in the investor’s profile:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investment will be held)
  • Investing experience
  • Tax status

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their funds by seeking out FINRA arbitration.

Background Information

Kenneth New has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 24 – General Securities Principal Examination

Kenneth New is a registered broker in 14 states and a registered investment adviser in nine states.

He has also worked for the following firms:

  • Pinnacle Financial Wealth Management (CRD#:175282)
  • Brookstone Capital Management (CRD#:141413)
  • Center Street Securities (CRD#:26898)
  • USA Financial Securities (CRD#:103857)
  • Ameritas Investment Corporation (CRD#:14869)
  • Signator Investors (CRD#:468)
  • John Hancock Mutual Life Insurance Company (CRD#:5181)

Kurta Law Can Help

If you worked with Kenneth New 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.