The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Jeffrey Kennedy. According to his publicly available FINRA BrokerCheck report, Jeffrey Kennedy has been the subject of multiple customer disputes over the course of his career.
Jeffrey Kennedy is an Illinois-based securities broker. He had worked in the securities industry for thirty six years. During his career, he had been registered with six different securities firms.
- Northwestern Mutual Investment Services (2006-2008)
- The O.N. Equity Sales Company (2008-2010)
- Center Street Securities (2010-2014)
- Brookstone Capital Management (2010-2015)
- Center Street Advisors (2015-2018)
- Center Street Equities (2014-present)
- Capital Advisor Network (2018-present)
The Allegations
- In July 2022, a customer alleged that Jeffrey Kennedy had recommended unsuitable investments. This case is currently pending, and the customer is seeking $500,000 in damages.
- In September 2022, a customer alleged that Kennedy had recommended unsuitable investments. This case is currently pending, and the customer is seeking $200,000 in damages.
- In September 2022, a customer alleged that Kennedy had recommended unsuitable investments and practiced inadequate due dilligence. This case is currently pending, and the customer is seeking $1,500,000 in damages.
- In October 2022, a customer alleged that Kennedy had recommended unsuitable investments. This case is currently pending, and the customer is seeking $185,000 in damages.
- In October 2022, a customer alleged that Kennedy had recommended unsuitable investments. This case is currently pending, and the customer is seeking $220,000 in damages.
- In October 2022, a customer alleged that Kennedy had recommended unsuitable investments. This case is currently pending, and the customer is seeking $105,000 in damages.
- In January 2023, a customer alleged that Kennedy had recommended unsuitable investments. This case is currently pending, and the customer is seeking $100,001 in damages.
Unsuitable Investments
Securities brokers have a duty to their customers to always act in their best financial interests. This is their duty as a fiduciary. This means that brokers can only recommend investments that their customers are actually suited for. Brokers like Jeffrey Kennedy can determine if a particular investment is suitable for their customer by looking at various different factors provided to them by the customer. This includes the customer’s investment objectives, financial situation, liquidity needs, and risk tolerance. Brokers who invest their customers contrary to these needs have either done so in a fraudulent manner, placing their own financial interests ahead of their customer’s, or in a negligent one. Regardless if the broker’s intent was fraudulent or negligent, managing a customer’s account unsuitably disqualifies them from the ability to perform their duties in the required manner.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Jeffrey Kennedy, please contact Oakes & Fosher for a free and private consultation. We handle cases on a contingency basis, which means there are no fees charged unless we collect for you.
