KYUSUN KIM (Kenny Kim) of San Diego, Barred by FINRA

KYUSUN KIM (also known as KYU SUN KIM, and Kenny Kim) CRD#: 2864085, has been barred FINRA from acting as a broker or otherwise associating with a broker-dealer firm on June 26, 2018, for allegedly making unsuitable recommendations to numerous senior clients, who were retiring or had retired, that they concentrate their retirement assets and liquid net worth in speculative and illiquid securities.
FINRA stated that many of the clients had little or no investment experience other than their 401(k) and pension plans and had never purchased the alternative investments recommended by Kim. Kenny Kim's recommendations were unsuitable for these clients because the speculative and illiquid nature of these investments were inconsistent with the clients' moderate or conservative investment objectives and risk tolerances.
Also, FINRA stated that Kenny Kim's recommendations resulted in an undue concentration of the clients' retirement assets and liquid net worth in speculative and illiquid investments. Kim failed to disclose to his clients the risks associated with these products, including that the securities were speculative and illiquid. As a result of these recommendation, Kim's customers suffered substantial losses.
FINRA’s findings also stated that Kim allegedly entered inaccurate and inflated net worth, liquid net worth and investment experience figures for certain clients on their new account forms and other documents so that they appeared eligible to purchase certain speculative investments. In one case, a 71-year-old client had 75% of his liquid net worth tied up in non-traded REITs and notes, according to Finra.
According to FINRA’s BrokerCheck, Kenny Kim has 24 Disclosures on his report, with 23 of them Customer Disputes. Kim was in the securities industry for 19 years and was listed with 4 firms, the most recent listed below:
03/21/2016 - 04/18/2017  SANDLAPPER SECURITIES LLC - San Diego, CA
02/27/2006 - 03/21/2016  INDEPENDENT FINANCIAL GROUP LLC - SAN DIEGO, CA
If you or an elderly family member experienced losses due to the actions or experience of Kenny Kim, formerly of Independent Financial Group of San Diego, California, call  Soreide Law Group for a no-cost consultation with an experienced securities lawyer regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents clients nationwide before FINRA and we operate on a contingency fee basis.  Let our experience work for you.