Soreide Law Group is reviewing possible investor claims of sales practice violations against securities broker Kevin Joseph Schaefer (CRD#: 1286030, San Francisco, California). Notably, Financial Industry Regulatory Authority (“FINRA”) reports that six investors brought disputes about Schaefer, who worked for Merrill Lynch as a financial advisor from 2011 to 2019 and who now works for Wells Fargo. Here’s more on some of the recent disputes about Schaefer.
Evidently, a client of Merrill Lynch took aim at Schaefer via a FINRA Arbitration Action from June 2020. First of all, the client alleged that Schaefer provided unsuitable recommendations. These recommendations supposedly involved fixed income investments, private placements and structured products. It is possible that the broker may have failed to consider aspects of the client’s suitability profile including risk tolerance and investment objectives. Secondly, the client indicated that Schaefer misrepresented information about these investments. For this reason, the client demands $1,000,000 to resolve this matter.
Apparently, a second Merrill Lynch client came forward to challenge Kevin Schaefer’s sales practices. Namely, the client alleged in this June 2020 lawsuit that the broker directed the client to buy alternative investments from 2012 to 2020. Apparently, those alternative investments were misrepresented. Also, the client indicated that Schaefer failed to follow instructions. Because of this, the client demanded payment of $300,000. This matter is unresolved.
Also, FINRA reports that a third Merrill Lynch client contested Kevin Schaefer’s sales practices in January 2017. Apparently, the client invested in municipal bonds from 2012 to 2016 because of him. Supposedly, the broker misrepresented information in connection with these municipal debt sales. Also, the client indicated that Schaefer provided unsuitable advice. However, this customer’s investment dispute was denied.
Other disputes involving Schaefer allege breach of fiduciary duty, non-disclosures, and negligent misrepresentation.
Have you experienced losses because of Kevin Schaefer? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced lawyers about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to the misconduct of financial advisors and securities brokers. FINRA BrokerCheck indicates that Schaefer denies all allegations of his sales practice violations.
Pending customer claims on BrokerCheck name Michael Graham (CRD 3263494) and list LPL Financial as the firm. Each claim is pending and unproven, and no arbitrator has ruled on any of them. The customers allege that Graham misrepresented guaranteed principal and returns on a secured loan related to a real estate deal.
An SEC decision involving Titan Securities (CRD 131392) of Plano, Texas became final on August 7, 2026, according to FINRA's October 2026 Disciplinary and Other FINRA Actions report. The decision fined the firm $50,000. The record lists the firm as JTA Securities Management, Inc. dba Titan Securities.
Every settled customer dispute on Peter Maller's BrokerCheck report names Lincoln Financial as the firm. Maller holds CRD number 2322403. The newest dispute, filed on March 5, 2024, settled on August 15, 2024 for $12,500 against alleged damages of $50,000. The claimants alleged that the representative represented an oil and gas investment as safe.
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