Soreide Law Group is currently investigating potential claims on behalf of investors who have suffered losses due to the actions of securities broker Kevin Douglas Houser [CRD#: 2513167, Center Valley, Pennsylvania]. Evidently, Houser joined Ameriprise Financial Services LLC on September 16, 2016, as both a financial advisor and securities broker. His prior affiliations include LPL Financial LLC in Allentown, PA, where he was registered from June 25, 2008, until September 28, 2016. The broker's practices are currently under scrutiny due to several client disputes alleging unsuitable investment recommendations and misrepresentations related to various investment products, including business development companies and variable annuities.
Ameriprise Financial Services Client Filed FINRA Arbitration Against Houser
Notably, a client of Ameriprise Financial Services and LPL Financial contested Kevin Houser's sales practices by filing FINRA Arbitration: 23-02053 on July 24, 2023. Supposedly, Houser made misrepresentations and unsuitable investment recommendations concerning a business development company and a variable annuity. It appears that Houser caused the client to sustain damages. Therefore, the client seeks compensatory relief from Ameriprise Financial Services or Houser in the amount of $46,979 in this ongoing matter.
LPL Financial LLC And Ameriprise Financial Services LLC Investor Accused Kevin Houser Of Misrepresentation
Specifically, on December 23, 2022, a client of LPL Financial LLC and Ameriprise Financial Services LLC filed FINRA Arbitration: 22-02950 about Kevin Houser. Evidently, the client alleged unsuitable advice and misrepresentations concerning a variable annuity and a business development company during the period from August 2014 to December 2022. Therefore, the client requested $400,000 in compensation from LPL Financial LLC and Ameriprise Financial Services LLC or Houser. Evidently, this arbitration is pending a resolution.
LPL Financial Settled Allegations Against Houser
Particularly, a client of LPL Financial contested Kevin Houser's sales practices by filing FINRA Arbitration: 22-00238. Supposedly, Houser recommended speculative, unsuitable, and high-risk investments including FSKR, Cole Credit Property Trust IV, FSEP, and CIM Real Estate Finance Trust. It appears that Houser's actions caused the client to sustain damages on these real estate securities. Therefore, LPL Financial opted to settle the matter on May 31, 2023, by compensating the client in the amount of $55,000.
LPL Financial LLC Investor Accused Kevin Houser Of Misleading Recommendations
Also, an LPL Financial LLC client filed FINRA Arbitration: 20-03794 about Kevin Houser. Evidently, the client alleged that Houser provided misleading recommendations to invest in Cole Credit Property Trust IV, Franklin Square BDC, and CIM REIT, which were not suitable for the client's conservative investment profile during the period from July 2013 to February 2014. Because of this, the client allegedly sustained damages. Therefore, on May 17, 2022, LPL Financial LLC settled this matter by paying the client $75,000 in damages.
Seek Legal Assistance For Your Losses
Did you experience losses because of Kevin Houser? If so, reach out to Soreide Law Group or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Houser and brokerage firms he worked for deny accusations of sales practice violations.