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Clients Seek $5 Million in Dispute with Kevin McGregor

Jul 5, 2022 Unsuitable Investments

Kevin McGregor (CRD #: 2540872), a broker registered with Avantax Investment Services, is involved in a pending dispute, according to his BrokerCheck record, accessed on June 26, 2022. If you have questions about Kevin McGregor’s conduct as a broker, keep reading.

Investor Dispute

In a dispute filed on April 18, 2022, multiple claimants allege that Kevin McGregor created a tax liability for them by liquidating their annuities, then invested the funds in unsuitable equity positions to generate commissions.

The clients further allege that Kevin McGregor hid information concerning family trust accounts, concealing the transfer of these accounts, and has not properly registered the family trusts to reflect all trustees. The investors seek $5,000,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles contain information such as investors’ age, risk tolerance, and investment goals.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

Background Information

Kevin McGregor 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 22 – Direct Participation Programs Representative Examination
  • Series 62 – Corporate Securities Limited Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Kevin McGregor is a registered broker in seven states and a registered investment adviser in California.

Kurta Law Can Help

If you worked with Kevin McGregor 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.