Kyusun Kim, of San Diego, California, a stockbroker formerly registered with Independent Financial Group, LLC, has been named in a customer initiated investment related arbitration claim on March 7, 2017, where the customer requested $350,000.00 in damages based upon allegations that Kim violated federal and state securities laws, breached his contractual and fiduciary duties, and effected unsuitable structured products, mutual funds, and direct investment program transactions in the customer’s account.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Kim has been identified in eighteen additional customer initiated investment related disputes containing allegations of his misconduct while employed with Independent Financial Group, LLC, and Lincoln Financial Advisors. Specifically, on January 24, 2017, a customer initiated investment related arbitration claim involving Kim’s conduct was settled for $90,000.00 in damages based upon allegations against him including omissions and misrepresentations, breach of fiduciary duty, and unsuitability pertaining to the customer’s mutual fund and direct investment program purchases made between 2012 and 2014.
Additionally, on January 30, 2017, a customer initiated investment related arbitration claim regarding Kim’s activities was resolved for $1,345,000.00 in damages based upon allegations that Kim committed financial elder abuse, committed fraud, made investment based misrepresentations, negligently managed the customer’s investment portfolio, and effected direct investment program and real estate security transactions in the customer’s account that the customer was not suitable for.
Moreover, from September 27, 2016, to April 12, 2017, seven customers filed initiated investment related disputes concerning Kim’s wrongdoing, in which customers have collectively requested $3,100,000.00 in damages based upon allegations against Kim including breach of contract, breach of fiduciary duty, violation of federal and state securities laws with regard to direct investments, structured notes, annuities, and mutual funds transactions effected in customers’ accounts.
Kim’s registration with Independent Financial Group, LLC was terminated on March 21, 2016. From March 21, 2016, to April 18, 2017, Kim was registered with Sandlapper Securities, LLC.
Guiliano Law Group
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