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Options for Clients of Former Hornor, Townsend & Kent, LLC Broker Ryan Fleming Who Suffered Investment Losses

Posted on Monday, October 4th, 2021 at 10:33 pm    

Hornor, Townsend & Kent, LL

Former Hornor, Townsend & Kent, LLC broker Ryan Fleming (CRD# 4378425) faces multiple customer complaints.. Fleming has been registered with Royal Alliance Associates, Inc. in Bellevue, Washington since October 2020. Previously, Fleming was registered with Advisory Resource Group, LLC in Bellevue, Washington from 2007 to 2016. Prior to that, Fleming was registered with Hornor, Townsend & Kent, LLC in Bellevue, Washington from 2001 to 2020.

Fleming has been the subject of two customer complaints in 2021 according to his CRD report:

April 2021. “According to Hornor Townsend Kent’s disclosure, the client alleged that certain REIT investments recommended to them were not suitable, and resulted in losses.” The customer is seeking $240,000 in damages and the case is currently pending. The complaint was regarding direct investments in non-traded real estate investment trusts (REITs).

March 2021. “Arbitration Claim alleging that Registered Representative recommended unsuitable investments for client’s IRA portfolios. It alleges breach of fiduciary duty and negligence, and request rescission, compensatory damages, lost opportunity costs, unspecified punitive damages, interest, costs and attorneys’ fees.” The customer is seeking $100,000 in damages and the case is currently pending. The complaint was regarding direct investments and LP interests. 

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, Hornor, Townsend & Kent, LLC may be liable for investment or other losses suffered by Fleming’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.