Kevin Rainwater Involved an Unsuitability Dispute
Kevin Rainwater (CRD #:3098443), a broker registered with Arkadios Capital, is involved in an unsuitability dispute, according to his BrokerCheck record, accessed on March 10, 2022. He is also an investment advisor registered with ACG Wealth.
On November 23, 2021, Kevin Rainwater was involved in an investor dispute alleging unsuitable REIT and alternative investment recommendations. The investor is seeking $300,000一the case is still pending.
Settled Unsuitability Disputes
Kevin Rainwater has been involved in multiple settled disputes alleging unsuitability, according to his BrokerCheck record.
On March 8, 2020, two investors filed a dispute against Kevin Rainwater. The first investor alleged unsuitability and unauthorized trading, while the latter alleged unsuitable investment recommendations. The cases were collectively settled for $235,000.
On April 26, 2019, he was involved in an investor dispute alleging unsuitability and misrepresentation. The case was settled for $90,000.
FINRA Rules 2111 and 2020
Brokers who recommend securities and investments are subject to FINRA rules and regulations.
- FINRA Rule 2111 requires registered brokers to have a “reasonable basis” to believe that a recommended transaction or investment strategy suits their client’s needs. Otherwise, FINRA may find the recommendation unsuitable.
- FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or persuading individuals to buy investments with false statements about their potential benefits.
- Kevin Rainwater’s alleged unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.
Between 2016 and 2018, Kevin Rainwater became the subject of four tax liens totaling $116,552.13.
Kevin Rainwater has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- Series 65 – Uniform Investment Adviser 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 four states. He is also a registered investment advisor in Alabama and Georgia.
Kevin Rainwater has also worked with the following firms:
- Arkadios Wealth Advisors (CRD#:288863)
- Stancorp Investment Advisers (CRD#:110228)
- Stancorp Equities (CRD#:19517)
- ManEquity (CRD#:5249)
Kurta Law Can Help
If you have worked with Kevin Rainwater and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org 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 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.