Financial Advisor Christopher B. Kennedy Has Disclosed Ten Customer Complaints

Christopher B. Kennedy (CRD#: 4498061) was a dually registered Broker and Investment Advisor.

Broker’s Background

He entered the securities industry in 2002 and previously worked for Western International Securities, Inc.; Spartan Capital Securities, LLC; Financial West Group; Multi-Financial Securities Corporation; and RBC Dain Rauscher, Inc.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in May 2022, a customer dispute was filed against Christopher B. Kennedy and is pending. The allegation states, “Losses sustained by virtue of unauthorized trading.”

In addition, Christopher B. Kennedy has been the subject of nine other customer complaints, including four that remain pending, including the following:

  • March 2022 — “Engaged in extensive and unauthorized trading without clients knowledge or consent.” The customer dispute is pending, and damages of $2.5M are requested.
  • January 2022 — “Client alleged through counsel on August 24, 2021, that Kennedy had begun in February 2021 to use margin without approval of the Client family accounts and that during the week of July 26th Kennedy had engaged in improper options trading for Client. Claimant allegations, include but not limited to, Breach of Fiduciary duty.” The customer dispute is pending, and damages of $5.42M are requested.
  • December 2021 — “Client alleges breach of fiduciary duty, unauthorized trading, and breach of contract.” The customer dispute was settled for $125,000.
  • November 2021 — “Customer expressed concern of the handling of his account.” The customer dispute was settled for $36,870.52.
  • November 2021 — “Claimant raised concerns regarding misrepresentation and negligence in handling accounts.” The customer dispute was settled with damages of $40,731.26 awarded.
  • November 2021 — “Claimant alleged breach of contract, fiduciary duty, and negligence in handling the account.” The customer dispute is pending. Damages of $375,000 are requested.
  • September 2021 — “The Client has alleged that his account lost 300K over the past few months and that Kennedy was trading without authority from the client or supervision from Western.” The customer dispute is pending.
  • September 2021 — “Client alleged through counsel that Kennedy forged and denied access to client account statements in order to hide allegedly improper trading in the Client’s account occurring from December 2020 through August 2021, including options trading conducted in the last week of July 2021 which led to these allegations.” The customer dispute was resolved through a settlement of $2.76M.
  • August 2021 — “Clients have alleged unauthorized options trading and failure to adhere to discretionary options sales orders.” Christopher B. Kennedy was discharged by Western International Securities, Inc. after allegations from clients.

For a copy of Christopher B. Kennedy’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.

In addition, to the extent a Financial Advisor converts client assets during the course and scope of his employment and/or registration with the brokerage firm, that brokerage firm may be held liable for any attendant losses.

The Wolper Law Firm, P.A. represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., 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. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]