Can I recover losses from investments with Park Avenue Securities LLC broker John Kauzlarich (CRD# 5096866)? He has been registered with Park Avenue Securities LLC in Overland Park, Kansas, since 2008. He was registered with Northwestern Mutual Investment Services, LLC in Overland, Kansas, from 2006 to 2008, when he was terminated regarding allegations that he “admitted to knowingly submitting an application with false information on it.”
John Kauzlarich Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
May 2024. “In March 2022, client alleges the information he received was inaccurate when he informed the RR he wanted to move his account investments to cash but was told it could not be done since the line of credit that was collateralized with his account did not permit his account to hold cash. Client further alleges that he instructed the RR to change his risk model to a more conservative model and it was never processed.” The customer sought $462,000 in damages, and the case was settled for $225,000. The complaint was regarding an investment advisory account, and it took place white he was registered with Park Avenue Securities LLC.
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, Park Avenue Securities LLC may be liable for investment or other losses suffered by John Kauzlarich’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 caused by failure to follow direction, 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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