There are options for clients of former Raymond James Financial Services, Inc. broker Kelvern Chen (CRD# 5679957) who allegedly made unsuitable investment recommendations. He has been registered with Northwestern Mutual Investment Services, LLC in New York, New York since 2021. Previously, he was registered:
- TD Ameritrade, Inc. in New York, New York from 2020 to 2021
- Santander Securities in Brooklyn, New York from 2019 to 2020
- UNFCU Advisors LLC in New York, New York from 2018 to 2019
- CommunityAmerica Financial Solutions, LLC in New York, New York from 2018 to 2019
- Raymond James Financial Services Advisors, Inc in New York, New York from 2016 to 2018
Kelvern Chen Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
February 2022. “Statement of Claim alleges that Chen, in his capacity as an investment advisory representative, made an unsuitable recommendation to a claimant to purchase NorthStar Trust Contracts. The statement of claim alleges that the Northstar Trust Contracts were sold to claimant in 2018 through an investment advisory agreement. During this time Chen was a registered investment advisory representative of Raymond James and then subsequently UNFCU Advisors.” The customer is seeking $500,000 in damages and the case is currently pending. The complaint took place while he was registered with Raymond James Financial Services, Inc. and was regarding an investment advisory trust contract.
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, Raymond James Financial Services, Inc. may be liable for investment or other losses suffered by Kelvern Chen’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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