Soreide Law Group brings you up to speed on the FINRA BrokerCheck disclosures on securities broker Kirby Spencer McDonald (CRD#: 1622995, Omaha, Nebraska). Evidently, McDonald worked as a QA3 Financial Corp securities broker. Subsequently, he joined Cetera Advisors as both a securities broker and financial advisor. Let’s take a closer look at the allegations of unsuitable transactions as reported on BrokerCheck. However, keep in mind that the securities broker denies alleged inappropriate sales practices.
Specifically, a client of Cetera Advisors LLC expressed concerns about Kirby McDonald’s sales practices, according to a dispute listed on BrokerCheck in June 2021. Mainly, the investor alleges unsuitable recommendations. Also, the client contends that McDonald took the account over after the client made purchases. Supposedly, McDonald caused the client to face damages via his actions relating to real estate securities. Notably, the client received $35,000 in damages according to a settlement of this dispute with the securities firm in January 2022.
Evidently, a client of Cetera Advisors LLC contested Kirby McDonald’s sales practices by bringing an investment dispute in November 2018. Supposedly, McDonald caused the client to incur tax problems relating to the client’s investments in a variable annuity. Because of the alleged inappropriate sales practices, the securities firm opted to pay the client $72,000 to settle this matter in July 2020.
Also, it appears that a QA3 Financial Corp Financial Services client took issue with Kirby McDonald’s actions. The client’s causes of action against the securities firm include his failure to check that a fixed annuity had a surrender charge waiver if the policyholder needed to go to a nursing home. Supposedly, McDonald or the securities firm caused the client to experience $26,000 In damages by investing in the fixed annuity. However, the securities firm and broker disagreed with the allegations, and this matter closed without a resolution.
Apparently, securities broker Kirby McDonald denies allegations of improper sales practices. Have you experienced investment losses by interacting with this broker? You could reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery. Soreide Law Group takes clients’ cases on a contingency fee arrangement and advances all costs. The law firm has recovered considerable compensation for US clients who have experienced losses from their securities brokers or financial advisors.
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