San Diego Advisor Kyusun Kim, Independent Financial Group, Barred for Unsuitable Investments
Have you suffered losses investing with Kyusun Kim (a/k/a Kenny Kim) in San Diego, CA? If so, the securities attorneys at The White Law Group may be able to help you to recover your losses by filing a FINRA Arbitration claim against his employer.
According to the Financial Industry Regulatory Authority (FINRA), the regulator has reportedly barred San Diego financial advisor Kyusun “Kenny” Kim from working in the securities industry in any capacity.
FINRA states in a Letter of Acceptance, Waiver and Consent today that between 2008 and 2015, Kim allegedly made unsuitable recommendations to numerous senior customers that they concentrate their retirement assets and liquid net worth in speculative and illiquid securities.
Also, Kim purportedly falsely inflated the net worth figures of several customers on their new account forms and other documents so that they appeared eligible to purchase certain speculative investments, in violation of FINRA Rules.
According to his FINRA BrokerCheck report, Kim has 23 customer complaints since 2007. Allegations include wrongful conduct, breach of fiduciary duty, unsuitable investments, breach of contract and financial abuse, among others.
Kim was registered with Sandlapper Securities in San Diego, CA from March 2016 until April 2017. Prior to that, he worked for Independent Financial Group in San Diego, CA from 2006 until March 2016.
For FINRA’s full findings, see FINRA case number NO. 2017052705001.
Investigating Potential Claims
The White Law Group is investigating the liability that Kim’s employers may have for failing to properly supervising him.
Brokerage firms are required to properly supervise their advisors. They must ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Kim’s former employers failed to properly supervise him, the firm may be held responsible for the losses in a FINRA arbitration claim.
If you are concerned about your investments with Kyusun Kim and would like a free consultation to discuss your litigation options, please call The White Law Group at 1-888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
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