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Investor Alleges Kevin McGrady Recommended Unsuitable Oil and Gas Investment

Kevin McGrady (CRD #: 2186164), a broker registered with LPL Financial, allegedly gave an unsuitable investment recommendation, according to his BrokerCheck record, accessed on October 16, 2022. Investors may have also worked with him through Integrated Wealth Concepts. Read on to learn more about his conduct as a broker.

Investor Dispute

On July 8, 2022, an investor filed a dispute alleging that Kevin McGrady recommended an unsuitable oil and gas investment. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to consider whether an investment fits their investor’s financial goals. Brokers must take into account an investor’s profile, which describes their tax status, risk tolerance, and other investments.

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

Background Information

Kevin McGrady 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

Kevin McGrady is a registered broker in 17 states and a registered investment adviser in Rhode Island.

He has also worked for the following firms:

  • LPL Financial (CRD#:6413)
  • Lincoln Financial Advisors (CRD#:3978)
  • New England Securities (CRD#:615)
  • VeraVest Investment Advisors (CRD#:105796)
  • VeraVest Investments (CRD#:3960)

Kurta Law Can Help

If you worked with Kevin McGrady 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. 

 

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