Mike Kilpatrick In Centaurus Financial Investor Disputes

Investors possibly experienced losses because of financial advisor / securities broker Mike Robert Kilpatrick [CRD: 1278618, Camarillo, California], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Kilpatrick has worked for Centaurus Financial Inc. since May 10, 2011. Before this, he worked with LPL Financial and American Express Financial Advisors. Here’s more about the disclosures involving Kilpatrick and the potential impact on investors.

Centaurus Investor Accused Kilpatrick Of Breach Of Fiduciary Duty

Particularly, on June 6, 2024, a Centaurus Financial Inc. client filed FINRA Arbitration No. 24-01238 about Mike Kilpatrick. Mainly, the client alleged unsuitable recommendations and breach of fiduciary duty. Because of this, the investor supposedly sustained damages on corporate bonds. Therefore, they requested $150,000 in compensation from Centaurus Financial Inc. or Kilpatrick. Currently, this arbitration is pending a resolution.

Mike Kilpatrick Suspended By FINRA

Notably, FINRA issued an Acceptance, Waiver, and Consent (AWC) on August 16, 2010, sanctioning Mike Kilpatrick for infractions. Kilpatrick signed clients' names to various documents when the firm's procedures prohibited this. As a result, Kilpatrick was fined $7,500 and suspended in all capacities for six months, from August 16, 2010, to February 15, 2011.

LPL Financial Investor Accused Kilpatrick Of Unsuitable Recommendations

Also, an LPL Financial client filed a complaint about Mike Kilpatrick. Mainly, the client alleged unsuitable recommendations. Because of this, the investor supposedly sustained damages on variable annuities. Consequently, on November 17, 2008, LPL Financial settled this matter by paying the client $40,000 in damages.

Kilpatrick Disclosed Breach Of Fiduciary Duty Allegations By American Express Financial Advisors Client

Additionally, a client of American Express Financial Advisors contested Mike Kilpatrick’s sales practices by filing NASD Arbitration No. 03-03633. Notably, the investor alleged unsuitable trading, unauthorized trading, breach of fiduciary duty, failure to supervise, and elder abuse. Allegedly,  Kilpatrick caused the client to sustain damages on mutual funds. Therefore, American Express Financial Advisors opted to settle the matter on September 2, 2004, by compensating the client in the amount of $73,807.

Experience Financial Harm Due To Securities Broker Mike Kilpatrick?

Have you incurred losses because of Mike Kilpatrick? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a possible 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. Kilpatrick and the brokerage firms he worked for deny accusations of sales practice violations.