American Portfolios Financial Advisor, Jimmy Kuhn, Has Four Customer Complaints, Alleging Sales Practice Violations
The Wolper Law Firm is currently investigating claims against Jimmy Kuhn, a Financial Advisor at American Portfolios Financial Services in Smithtown, NY. Jimmy Kuhn has been in the securities industry since the 1990s and previously worked at Morgan Stanley.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), since 2010, Jimmy Kuhn has been the subject of four (4) customer complaints, alleging sales practice violations:
- January 2018—“Client alleges breach of fiduciary duty, neglectful portfolio supervision, and unsuitable financial recommendations.” The matter was settled for $70,000.
- December 2015—“Clients allegations are “breach of fiduciary duty, negligent supervision, unsuitable recommendations, breach of contract, misrepresentation, unauthorized trading.” The matter was settled for $60,000.
- December 2009—“Clients allege that FA recommended unsuitable investments in Ultra-Short ETFs.” The matter was settled for $65,000.
- November 2008—“Client alleges, inter alia, that his margin account was larger than he had authorized.” The matter was settled for $150,000.
To review a full copy of Jimmy Kuhn’s FINRA disclosure report, click https://brokercheck.finra.org/individual/summary/3260491#disclosuresSection
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
If you or someone you know was a customer of Jimmy Kuhn and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@wolperlawfirm.com to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.
