Kenneth William Biebel of Westport, Connecticut, a stockbroker formerly registered with David Lerner Associates Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $10,000.00 in damages based upon allegations that Biebel made unsuitable investment recommendations in connection with the sale of private placements including Energy 11 and Energy Resources 12 during the period Biebel was associated with David Lerner Associates Inc. FINRA Arbitration No. 21-02071 (Aug. 11, 2021).

FINRA Public Disclosure also shows that Biebel was discharged by Wells Fargo Advisors LLC based upon allegations that Biebel failed to supervise.

Kenneth Biebel was associated with Spirit of America Management Corp in E Westport, CT, as an investment advisor representative from April 13, 2018 to February 2, 2021. Biebel has been associated with Alliance Global Partners in Westport, CT, as a stockbroker since February 1, 2021, and as an investment advisor representative since February 1, 2021.