Kevin Houser REIT, BDC Disputes

LPL Clients Take Aim At Broker Kevin Houser For Alternative Investment Sales

Soreide Law Group is contemplating potential FINRA Arbitration Claims or lawsuits on behalf of investors who lost money because of Kevin Douglas Houser (CRD#:  2513167, Center Valley, Pennsylvania). FINRA BrokerCheck shows that Houser worked for a number of well-known securities firms including LPL Financial (2008 to 2016) and Ameriprise Financial Services (2016). Notably, at least 4 investors brought disputes about him since 2016. These investors indicate that Houser possibly made unsuitable recommendations of alternative investments. It seems that investors might have lost money on REITs and BDCs that the securities broker sold or recommended. Let’s take a closer look at these disclosures and what you could do if you have invested in unprofitable or problematic products because of Houser.

Client Alleges Kevin Houser Sold Unsuitable, Misrepresented Alternative Investments

First of all, a client of LPL Financial took aim at Kevin Houser in November 2020 with a FINRA Arbitration Claim. First of all, Houser supposedly improperly recommended Franklin Square BDC, CIM REIT and Cole Credit Property Trust IV. It seems that the broker should not have recommended those investments because of the client having a conservative investment profile. Because of alleged losses on BDC and REIT positions recommended by Houser, the client demanded $358,000 in compensation. Evidently, this matter awaits a resolution.

Houser Supposedly Misled Client About BDCs, REITs

Evidently, a second LPL Financial client took aim at Kevin Houser in a November 2020 lawsuit. Similar to the first dispute, this client alleged that recommendations of Franklin Square BDC, Cole Credit Property Trust IV and CIM REIT were not appropriate. It appears that the client’s risk tolerance posed a problem for the suitability of these investments. It also seems that the client incurred losses. Because of this, the client asked for $292,000 in compensation to resolve this dispute. Evidently, this is an ongoing dispute.

Client Says That Kevin Houser Made Misleading Recommendations

A third investor filed a lawsuit about Kevin Houser’s advice relating to Franklin Square BDCs. Specifically, in this July 2020 FINRA Arbitration Claim, the client claimed that the BDC and an AXA annuity did not fit their investment profile. It appears that the client held the investments from December 2015 to July 2020. This matter involves $300,000 in alleged damages which the client claimed to have suffered because of Houser. This dispute awaits a resolution.

Losses From Houser?

Have you experienced losses by investing with securities broker Kevin Houser? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities firms and financial advisors. Apparently, Houser denies allegations of his sales practice violations.