Kevin Koslofski Allegedly Recommended Unsuitable Investments

Kevin Koslofski (CRD #: 3033810), a broker registered with Berthel, Fisher & Company Financial Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on August 15, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On July 2, 2024, an investor alleged that Kevin Koslofski made unsuitable investments and over-concentrated claimants’ accounts in alternative investments and private placements. The investor further alleged that Kevin Koslofski misrepresented the investments. 

The investor is seeking $180,000. 

Misrepresentation 

FINRA Rule 2020 prohibits the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

FINRA Rule 2111 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information 

Kevin Koslofski 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 

He is a registered broker in 14 states and is a registered investment adviser in Illinois. 

During his 26 years of experience, Kevin Koslofski has registered with four firms: 

• Berthel Fisher & Company Financial Services (CRD #: 13609)
• BFC Planning (CRD #: 119682) 
• AXA Advisors (CRD #: 6627) 
• Thrivent Investment Management (CRD #: 18387) 

Kurta Law Can Help 

If you worked with Kevin Koslofski and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.