Independent Financial Group Broker, Kenneth Guerra, Has A Pending Customer Complaint Involving The Sale Of Alternative Investments
Kenneth Guerra (CRD # 1337062) is a Financial Advisor at Independent Financial Group in Grants Pass, Oregon. Kenneth Guerra previously worked at ING Financial Partners.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on September 5, 2019, a customer complaint was reported against Kenneth Guerra, alleging “despite ttheir stated objectives, they were invested in high-risk alternative investments, resulting in a loss of some of their retirement assets.” The customer seeks damages of $100,000. The dispute remains pending.
In 2013, a second customer filed a complaint against Kenneth Guerra, alleging that the “Non-Traded REIT purchased in 2007-2008 was misrepresented and unsuitable.” The matter was settled for $60,000.
In 1997, Kenneth Guerra was fined by the Department of Consumer and Business Services for the alleged sale of unregistered securities. A fine of $9,136 was imposed.
For a copy of Kenneth Guerra’s CRD, click https://brokercheck.finra.org/individual/summary/1337062#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.
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