Thomas Kieffer Apparently Made Unsuitable Trades

St. Louis Financial Planner's Thomas Kieffer Supposedly Breached Fiduciary Duty

Soreide Law Group is reviewing information from investors who have experienced losses because of Thomas Anthony Kieffer (CRD#: 269086, Chesterfield, Missouri). Namely, the securities broker joined Ceros Financial Services as a securities broker in January 2010. Also, he joined St. Louis Financial Planners Inc. in September 1997 as a financial advisor. Evidently, FINRA BrokerCheck shows that there are three disputes about Kieffer from St. Louis Financial Planners clients. Notably, these disputes indicate that Kieffer possibly sold his clients unsuitable investments and had caused their losses through his negligence. Here’s more.

St. Louis Financial Planners Client Indicates That Thomas Kieffer Breached Duty

Evidently, a client of St. Louis Financial Planners disputed Thomas Kieffer’s actions in a July 2020 FINRA Arbitration Claim. Namely, this client alleged that Kieffer breached his duties. It is possible that Kieffer breached a fiduciary duty by placing his interests ahead of the client’s interests. Also, the securities broker might have negligently or unsuitably traded investments in the client’s managed stock portfolio. For this reason, the client asked for $135,000 in this ongoing matter.

Kieffer Allegedly Negligent With St. Louis Financial Planners Client’s Money

Apparently, a St. Louis Financial Planners client took aim at Thomas Kieffer by bringing a lawsuit in June 2020. Just like the other client, this St. Louis Financial Planners client alleged that Kieffer breached duties. Not only that, but the client particularly had a problem with Kieffer’s “negligent actions.” It seems that Kieffer could have unreasonably recommended or traded securities which caused the client to see serious declines in their managed individual stock portfolio. For this reason, the client seeks compensatory relief of an astounding $1,000,000. Evidently, this matter is ongoing.

St. Louis Financial Planners Pays Client To Settle Dispute About Thomas Kieffer’s Sales Practices

Moreover, a client of St. Louis Financial Planners brought an investment dispute about Thomas Kieffer in May 2017. Particularly, as financial advisor, Kieffer allegedly made unsuitable purchases or sales of stocks in the client’s managed portfolio. It appears that Kieffer may have failed to consider the client’s risk tolerance, goals, needs and more. Not only that, but this is the third client to make allegations about Kieffer’s breach of duty. Potentially, Kieffer failed to act in the client’s best interests and instead caused the client to experience losses. Evidently, St. Louis Financial Planners opted to pay $45,000 to the client to settle this dispute in October 2017.

Did Kieffer Sell You Bad Investments As Your Financial Advisor?

Have you experienced losses by trusting in Thomas Kieffer? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities firms and brokers like Kieffer.