Kevin Charles Fretz of South Windsor, Connecticut, a stockbroker formerly registered with LPL Financial LLC, was the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $55,000.00 in damages based upon allegations that Fretz made the unsuitable recommendation of certain non-traded real estate investment trusts (“REITs”) while he was associated with LPL Financial. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01897 (June 22, 2021).
FINRA Public Disclosure shows that Fretz has been identified in five more customer initiated investment related disputes regarding allegations of Fretz’s conduct while employed by securities broker-dealers, including UVest Financial Services Group Inc. Fretz is referenced in a customer initiated investment related written complaint in which the customer requested compensatory damages based upon the allegations that Fretz failed to follow instructions concerning the death claim on a variable annuity when Fretz was registered with UVest Financial Services Group Inc.
On February 27, 2020, a customer initiated investment related complaint concerning Fretz’s activities was resolved for $49,343.91 in damages supported by allegations allegations that Fretz made misrepresentations and provided unsuitable investment advice to the customer regarding real estate securities transactions for the customer’s LPL Financial account. The complaint also alleges forgery.
On March 6, 2020, another customer initiated investment related complaint involving Fretz’s conduct was resolved for $15,255.65 in damages founded on accusations of Fretz’s failure to invest the customer’s funds during the time that Fretz was employed by LPL Financial.
Fretz is identified in a customer initiated investment related written complaint which was settled for $28,194.59 on July 7, 2020, based upon allegations of unsuitable trading by Fretz concerning real estate securities at LPL Financial. According to the claim, Fretz made misrepresentations to the customer regarding the risk associated with certain investments.
On July 17, 2020, a different customer initiated investment related complaint regarding Fretz’s activities was resolved for $77,708.25 in damages based upon allegations that the broker made misrepresentations and recommended unsuitable recommendations of certain structured nores in the customer’s account at LPL Financial.
Fretz was associated with LPL Financial between October 11, 2011, and October 3, 2019.