Kevin Douglas Houser of Allentown Pennsylvania a stockbroker and investment adviser representative of LPL Financial is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $358,000.00 in damages supported by accusations that the customer had been provided unsuitable investment recommendations regarding business development companies and real estate securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03794 (Nov. 16, 2020). According to the claim, the customer had conservative investment objectives but was sold CIM REIT, Cole Credit Property Trust, and Franklin Square BDC.
FINRA Public Disclosure reveals that Houser has been identified in three additional customer initiated investment related disputes containing allegations of his improper conduct during the time that he was employed by LPL Financial LLC. On December 19, 2017, a customer filed an investment related complaint involving Houser’s conduct where the customer requested $687,661.00 in damages based upon accusations of unsuitable alternative investment sales by Houser. FINRA Arbitration No. 17-03265 (Dec. 19, 2017).
On July 21, 2020, another customer filed an investment related FINRA securities arbitration claim involving Houser’s conduct in which the customer sought $300,000.00 in damages founded on allegations that the customer received misleading investment recommendations from Houser as it pertained to AXA annuities and Franklin Square BDCs. FINRA Arbitration No. 20-02246 (July 21, 2020). According to the claim, the investments were not suitable given the customer’s low risk tolerance.
Houser has been referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $292,000.00 in damages supported by accusations of bad recommendations by the stockbroker while he was registered with LPL Financial. FINRA Arbitration No. 20-03751 (Nov. 10, 2020). The claim alleges that business development companies and real estate securities were not appropriate for the customer and had resulted in damages.
Houser’s registration with LPL Financial has been terminated as of September 28, 2016. He has been registered as a stockbroker and investment adviser representative of Ameriprise Financial Services since September 16, 2016.
