Last Updated: May 2024
Kestra Investment Services Investigation Summary
Here’s what you need to know about Austin ,Texas , headquartered brokerage firm Kestra Investment Services :
- Name: Kestra Investment Services. Parent is Kestra Financial, who is also parent to Kestra Private Wealth Services, an advisory firm.
- Function: Stock Brokerage Firm/ Registered Financial Advisor
- Former Names: Partners Securities Inc., NFP Securities Inc, NFP Advisory Services LLC, NFP Advisor Services
- Number of Registered Representatives: More than 1,700.
- Assets: $103 Billion under advisement. $51 Billion under management. Ranks as #11 broker dealer by gross revenue according to 2022 Financial Advisor publication.
- CRD 42046
- Can Kestra Investment Services be sued in FINRA arbitration: Yes
- Sanctioned by Securities Regulators: Yes- Many times, by state and federal regulators as well as self-regulatory agencies, see below.
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With A Broker Who is Registered with Kestra Financial?
Individual stockbrokers/financial advisors (referred to as registered representatives in the industry) are required to be registered with a FINRA registered broker dealer. Often times that broker will operate under a “doing business as” (dba) name rather than under the name of the FINRA registered broker dealer where he or she is registered. For example, broker John Doe may be registered with Kestra Investment Services (or any of the other thousands of FINRA registered broker dealers nationwide) but his financial services business might be known in the local community as John Doe Financial Services or John Doe Investment Planning, John Doe Wealth Advisor, etc.
Should you have a claim for stockbroker malpractice, fraud or negligence for the mishandling of your account, the broker dealer where the stockbroker is registered is liable for those losses under theory that a principal is liable for the damages caused by his agents acting within the scope of their employment.
If your Kestra Investment Services broker or financial advisor causes damages due to the mishandling of your account, Kestra Investment Services can be held liable.
See “How to Research Your Broker-What is a CRD?” for instructions on how to access FINRA and SEC regulatory records and learn more about a broker or a broker-dealer firm.
Kestra Investment Services Has A Lengthy History of Regulatory Violations
- Kestra Investment Services has been disciplined numerous times over the years by state and federal securities regulatory agencies, including the Financial Industry Regulatory Authority( FINRA), the U.S. Securiites & Exchange Commission, New York State Department of Financial Services, North Carolina Department of Insurance, Pennsylvania Department of Banking and Securities and the Department of Banking and Finance, Division of Securities for the State of Florida for violations of industry rules as well as state and federal securities laws.
- As reflected on their CRD ( CRD 42046), Kestra Investment Services has 14 regulatory disclosures on their FINRA record.
If you would like to review all 14 regulatory sanctions against Kestra Investment Services look at their CRD.
Rex Securities Law Investigations of Registered Representatives Who Have Worked for Kestra Investment Services
Follow links for details on these Kestra brokers and former Kestra brokers we have investigated.
- Stephanie D. Abee – Raleigh, N. Carolina
- Philip Amos – Avon, Ohio
- Ben Belanger – Peoria, AZ
- Jeffrey Alan Blutstein – Holbrook, NY
- Keith Borgfeldt – Sugar Land, Texas
- Jeffrey Buck – Honolulu, HI
- David Bunin – Wilton, CT
- Markus Byrd – Dallas, TX
- David O. Carlock – San Antonio, TX
- Chadwick Collins – Carlsbad, CA
- Karen Cunningham – Oklahoma City, OK
- James Daughtry – Dothan, AL
- Pamela Espinosa – Albuquerque, NM
- John Freiburger – Naperville, IL
- Matthew T. Griffith – San Diego, CA
- Curt Grossman – Pittsburgh, PA
- Gabe Hynes – St. Augustine, FL
- Theodore M. Jenkins – Alpharetta, GA
- Kenneth Knox – Marshall, Texas
- David Lentz – Kernersville, NC
- James Morrison – Waco, TX
- Joseph Moyer – Columbus, OH
- Andrew Pincus – Boca Raton, FL
- John Spach – Calabasas, CA
- Cheryl Stallings – Amarillo, TX
- James Studinger – Bloomfield Hills, MI
- Javier Trevino – Austin, TX
- Mitchell Walk – Sarasota, FL
- George M. Warner – Horseshoe Bay/ Rockwall, TX
- Chip Wernig – Lakewood, CO
- Eric Willer – Dallas, TX
- Mark Zorn – Addison, TX
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by a broker or financial advisor who is currently employed by or previously worked for Kestra Investment Services, contact us for a complimentary consultation with an experience securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
FINRA Rule 2111- suitability -Regulation Best Interest
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
