Michael Allen Kamperman of Waco Texas a stockbroker formerly registered with HD Vest Investment Services is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $300,000.00 in damages supported by allegations that unsuitable over-the-counter equities trades were executed in the customer’s account during the period that Kamperman was associated with HD Vest Investment Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01886 (Aug. 13, 2020). The claim alleges that the stockbroker engaged in excessive trading between 2015 and 2017.
Kamperman has been referenced in four additional customer initiated investment related disputes concerning accusations of his improprieties while employed by Prospera Financial Services. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that a customer initiated investment related FINRA securities arbitration claim regarding Kamperman’s conduct was resolved for $65,000.00 in damages founded on allegations of insufficient due diligence and misrepresentations concerning investments. The claim also alleges that trades were excessive and unauthorized.
Kamperman is also the subject of a customer initiated investment related written complaint in which the customer sought $50,000.00 in damages based upon accusations of frequent and unsuitable trades that were executed in the customer’s Prospera Financial Services account by Kamperman. The complaint alleges that the customer’s account had been mismanaged by the stockbroker.
On October 26, 2017, another customer initiated investment related FINRA securities arbitration claim involving Kamperman’s conduct was settled for $320,000.00 in damages supported by allegations of breach of contract and breach of fiduciary as it pertained to stock transactions effected by Kamperman at Prospera Financial Services. FINRA Arbitration No. 16-01641 (Oct. 26, 2017). According to the claim, the stockbroker concealed risks from the customer and had overconcentrated the customer’s assets in aggressive investments.
Kamperman’s registration with HD Vest Investment Services has been terminated as of June 30, 2017.
