Kevin McKane Allegedly Recommended Unsuitable Investments
Kevin McKane (CRD #: 4986224), a broker registered with Janney Montgomery Scott, is involved in an investor dispute, according to his BrokerCheck record, accessed on May 24, 2022. If you have concerns regarding his conduct as a broker, keep reading.
On February 15, 2022, investors alleged that Kevin McKane recommended unsuitable investment products. The investors further alleged that he failed to provide adequate assistance in their attempt to resolve the issue.
The firm denied the dispute, but investors should know that firms can deny claims without any external review or FINRA arbitration. Investors can still pursue arbitration and recover their losses following a denial.
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:
- Financial goals
- Risk tolerance
- Time horizon (i.e., how long the investor plans to hold the investment)
- Investing experience
- Tax status
Kevin McKane 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
- Series 7 General Securities Representative Examination
- Series 6 Investment Company Products/ Variable Contracts Representative Examination
He is a registered broker in 12 states and is a registered investment adviser in Georgia and Texas.
Kevin McKane has registered as a broker with the following firms:
- Janney Montgomery Scott (CRD #: 463)
- Raymond James & Associates (CRD #: 705)
- Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
- UBS Financial Services (CRD#: 8174)
- Diversified (Investors Securities Corp (CRD #: 32205)
Kurta Law Can Help
If you worked with Kevin McKane and have concerns about your investments, please contact us today at 877-600-0098 or email@example.com for a free consultation.
For nearly 20 years, Kurta Law has advocated on behalf of investors recovering their investment losses from stockbrokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors. We work on a contingency basis, which means that the firm only earns a fee if our securities attorneys recover money on your behalf. Reach out and we can tell you what steps to take to restore your lost funds.