Kevin Dery Allegedly Misrepresented Investments in Violation of FINRA Rule 2020

Kevin Dery (CRD #: 2807430), a broker registered with Wells Fargo, is facing an investor dispute. This disclosure appears on his BrokerCheck record, accessed on August 9, 2023. The details of this dispute are provided below. 

On July 14, 2023, an investor alleged that Kevin Dery misrepresented investments and recommended unsuitable investments from 2019 through March 2020. This is the fourth investor dispute on his record. 

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of material information, such as an investment’s potential returns, risks, or limitations.

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Financial goals
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status

Background Information 

Kevin Dery 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 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 52 Municipal Securities Representative Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination 

He is a registered broker in 32 states and D.C. He is also a registered investment adviser in Florida and Texas. 

Kevin Dery has registered with the following firms: 

• Wells Fargo Advisors Financial Network (CRD #: 11025) 
• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 
• Wells Fargo Advisors (CRD #: 19616) 
• A.G. Edwards & Sons (CRD #: 4) 
• Strategic Advisers (CRD #: 104555) 
• Fidelity Brokerage Services (CRD #: 7784) 
• NationsBanc Investments (CRD #: 16361) 
• Barnett Investments (CRD #: 14897) 
• Olde Discount Corporation (CRD #: 5979) 

Kurta Law Can Help

If you worked with Kevin Dery 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.