The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Kenneth Guerra. According to his publicly available FINRA BrokerCheck report, Kenneth Guerra has been the subject of multiple customer disputes.

Kenneth Guerra is an Oregon based securities broker. He has worked in the securities industry for thirty-four years. During his career, he has been registered with five different securities firms.

His Registrations

  • PFS Investments (1985-1996)
  • MW Management Company (1996-1998)
  • Woodbury Financial Services (1998-2001)
  • ING Financial Partners (2001-2010)
  • Independent Financial Group (2010-Present)

The Allegations

  • In March 2013, customers alleged that Kenneth Guerra recommended a highly unsuitable non-traded REIT. They also alleged that Guerra made material misrepresentations about said REIT investment. This case was settled for $60,000 in damages.
  • In September 2019, customers alleged that Kenneth Guerra invested them in high-risk alternative investments that were contrary to their previously stated investment objectives. This case is currently pending. The customers are seeking $100,000 in damages.

What Does This Mean?

The term “alternative investments” is typically used to describe privately traded investments that are not traded on any public securities exchanges. These types of products are commonly pushed onto investors because they provide recommending brokers with incredibly high commissions at the time the transaction is executed. Commissions for these products can be so high, it can make any returns the investor might see rather inconsequential. The commissions also serve to be the main motivations behind why these products are so feverishly recommended. The truth is that these investments are incredibly unsuitable for investors. They are incredibly speculative and illiquid, and very rarely benefit investors.

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 Kenneth Guerra, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.