Kevin Loyd is Facing Allegations of Unsuitable Investment Recommendations

Kevin Loyd (CRD #: 4447419), a broker registered with LPL Financial, is the subject of an investor dispute, according to his BrokerCheck record, accessed on March 4, 2023. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations

On August 22, 2023, an investor alleged that Kevin Loyd recommended unsuitable investments and misrepresented certain securities. They further alleged breach of contract. The investor is seeking $300,000. 

What is an Unsuitable Investment?

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

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

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

FINRA Rule 2020 – Misrepresentation

FINRA Rule 2020 prohibits the misrepresentation of investments and omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and fees. 

Background Information 

Kevin Loyd 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 ten states and is a registered investment adviser in Missouri. 

During his 21 years of experience, he has registered with nine firms. These are the five most recent: 

• LPL Financial (CRD #: 6413) 
• Cetera Advisors (CRD #: 10299)
• Cetera Investment Advisers (CRD #: 105644) 
• First Allied Securities (CRD #: 32444) 
• First Allied Advisory Services (CRD #: 137888)

Kurta Law Can Help 

If you have worked with Kevin Loyd and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or 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.