Soreide Law Group is reviewing potential investor claims against Kestra Investment Services securities representative Stephanie Abee (CRD#: 5888654, Raleigh, North Carolina). Namely, Abee reports through Financial Industry Regulatory Authority (“FINRA”) BrokerCheck that two of her clients complained about her. Here is a brief summary of those disputes which suggest that Abee misrepresented investments.
Kestra Investment Services Client Indicates Stephanie Abee Misrepresented Risks of Oil and Gas Investments
Evidently, a client of Kestra Investment Services brought a dispute on November 2017. Namely, the client suggested that Stephanie Abee falsified information about the nature and the risks of oil and gas investments. It appears that Stephanie Abee also failed to properly relay information about costs and liquidity. Moreover, the client indicated that Abee should not have invested the client’s assets in oil and gas products because the investments were inconsistent with the client’s risk tolerance and liquidity needs. For this reason, Kestra Investment Services opted to settle the matter by paying the client $25,000 in March 2018.
Risks of Oil and Gas Investments
Oil and gas investments, such as the ones Stephanie Abee apparently sold, contain substantial risks. Namely, the products are typically exposed to price volatility risks in that greater oil and natural gas supplies have a damaging effect on stock prices. Also, oil and gas investments also contain risks of dividend cuts. Namely, whenever the issuer’s revenue is not high enough to cover dividend payments, they are less likely to make dividend payments. Finally, these investments are generally illiquid. This can be a major concern for investors who need access to their principal.
Transamerica Client Suggests Stephanie Abee Misrepresented Mutual Funds, Annuities
Stephanie Abee also discloses a dispute from a client of Transamerica, who Abee worked for from 2013 to 2016. The client brought FINRA Arbitration #: 16-03045 in January 2017. Notably, the client suggested that Abee misrepresented information about mutual fund and variable annuity products. Allegedly, Abee falsified information or provided misleading information about risks, commissions and fees. Similar to the other dispute, this client suggested that investments were unsuitable and failed to provide liquidity. Evidently, Transamerica paid $250,000 to this client to settle the matter in August 2017.
Have you suffered losses by investing with securities broker Stephanie Abee, who now works for Cambridge Investment Research? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery. The firm represents clients on a contingency fee basis and advances all costs. Soreide Law Group has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.