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Investment Loss Options for Clients of Former LPL Financial LLC Broker Kevin Houser

Posted on Tuesday, February 16th, 2021 at 5:43 pm    

LPL Financial LLC

Were you the victim of former LPL Financial LLC broker Kevin Houser (CRD# 2513167)? Houser has been registered with Ameriprise Financial Services, LLC in Center Valley, Pennsylvania since 2016. 

Houser has been the subject of four customer complaints between 2016 and 2020, according to his CRD report:

November 2020. “Claimant alleges that he invested in Franklin Square BDC, Cole Credit Property Trust IV, and CIM REIT upon his broker’s misleading recommendation, which did not suit his allegedly conservative investment profile. Activity period: 7/2013 to 2/2014.” The customer is seeking $358,000 in damages and the case is currently pending. The complaint was regarding real estate securities and business development companies (BDCs) and took place while Houser was registered with LPL Financial LLC. 

November 2020. “Claimants allege that they invested in Franklin Square BDC, Cole Credit Property Trust IV, and CIM REIT upon their broker’s misleading recommendation, which did not suit their allegedly conservative investment profile.” The customer is seeking $292,000 in damages and the case is currently pending. The complaint was regarding real estate securities and BDCs and took place while Houser was registered with LPL Financial LLC. 

July 2020. “Claimants allege that they invested in Franklin Square BDC’s and AXA annuities upon their broker’s misleading recommendation, which did not suit their allegedly conservative investment profile. Activity period: 12/2015 to present.” The customer is seeking $300,000 in damages and the case is currently pending. The complaint was regarding variable annuities and BDCs and took place while Houser was registered with LPL Financial LLC. 

November 2016. “Suitability.” The customer is seeking $687,661 in damages and the case is currently pending. The complaint was regarding alternative investments and took place while Houser was registered with LPL Financial 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, LPL Financial LLC may be liable for investment or other losses suffered by Houser’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.