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Kevin Asano Allegedly Recommended Unsuitable Investments

Kevin Asano (CRD #: 4450052), a broker registered with Cetera Advisors, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on September 25, 2022. Investors may have also engaged his services through Cetera Investment Advisors. If you have questions about his conduct as a broker, read on.

Investor Dispute

On August 10, 2022, multiple investors filed a dispute alleging that Kevin Asano recommended unsuitable investments, as well as other allegations involving misrepresentation, failure to supervise, and breach of contract. The clients seek $300,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to consider whether an investment suits their investor’s financial goals. Brokers must take into account an investor’s tax status, risk tolerance, age, and other information contained in the investor’s profile.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds by seeking out FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulation, deception, and other unethical methods of influencing investors’ decisions. This includes the misrepresentation of material facts concerning investments, such as their potential returns, risks, or limitations.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision over their employees in order to detect and avoid regulatory violations. Firms must appoint supervisors with either the appropriate training or experience for their responsibilities.

Background Information

Kevin Asano 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 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 10 – General Securities Sales Supervisor – General Module Examination
  • Series 9 – General Securities Sales Supervisor – Options Module Examination
  • Series 26 – Investment Company Products/Variable Contracts Principal Examination

Kevin Asano is a registered broker in nine states and a registered investment adviser in Hawaii.

He has also worked for the following firms:

  • First Allied Advisory Services (CRD#:137888)
  • First Allied Securities (CRD#:32444)
  • Linsco/Private Ledger Corporation (CRD#:6413)

Kurta Law Can Help

If you worked with Kevin Asano and you have concerns about your investments, please contact us today at 877-600-0098 or 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.