Erez Law is currently investigating former B. Riley Wealth Management broker Howard Kavinsky (CRD# 5881623) regarding stock losses. He was registered with Supreme Alliance LLC i Charlotte, North Carolina, from September to December 2024, and B. Riley Wealth Management in Chicago, Illinois, in July 2022, when he was terminated regarding, “Failure to follow Firm procedures related to the creation and use of consolidated client reports and providing untrue responses on annual compliance questionnaires related to such activity; misrepresenting customers’ account values; creating unfounded customer statements purportedly from a clearing firm; and failing to forward potential customer grievances for further review by firm personnel.” He was registered with National Securities Corporation in Chicago, Illinois, from 2019 to 2022, David A. Noyes & Company in Miami, Florida, from 2018 to 2019, and Morgan Stanley in Chicago, Illinois, from 2015 to 2018.
In December 2024, FINRA barred him after he “consented to the sanction and to the entry of findings that he falsified at least 190 consolidated account statements for at least eight customers, some of whom were seniors, by overstating the customers’ account balances and reflecting fictitious investments in a hedge fund.” FINRA found that he “falsified the consolidated account statements for at least six of these customers to reflect that he had invested a portion of their funds in a hedge fund, even though he had not made any such investments.”
Howard Kavinsky Customer Complaints
He has been the subject of two customer complaints between 2024 and 2025, according to his CRD report:
May 2025. “Unauthorized trading, excessive trading.” The customer is seeking $258,677 in damages, and the case is currently pending. The complaint took place while he was registered with B. Riley Wealth Management, and it was regarding common and preferred stocks.
June 2024. “Clients claim RR refuses to provide them with copies of their statements and they believe their account balances are inaccurate. Attorney for clients further alleges over the course of the past two years, client funds have gone missing including qualified funds being removed from qualified accounts and representative provided false and misleading information pertaining to account balances.” The customer is seeking $760,000 in damages, and the case is currently pending. The complaint took place while he was registered with B. Riley Wealth Management, and it was regarding variable annuities.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, B. Riley Wealth Management may be liable for investment or other losses suffered by Howard Kavinsky’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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