Kevin Nevin Allegedly Breaches His Fiduciary Duty

The law firm of Oakes & Fosher is currently investigating the alleged misconduct of securities broker Kevin Mark Nevin According to his publicly available FINRA BrokerCheck report, Kevin Nevin has been the subject of multiple customer disputes over the course of his career.

Kevin Nevin is a Minnesota-based securities broker who has worked in the securities industry for twenty-five years. During his career, he has been registered with fourteen different securities firms.

His Registrations 

• The Equitable Life Assurance Society of the United States (1994-1996)


• Equico Securities (1994-1996)


• R.I. Securities (1996-1998)


• Ascend Financial Services (1996-1998)


• R.I. Securities (1999-2000)


• Ascend Financial Securities (1999-2000)


• Walnut Street Securities (2000-2001)


• Linsco/Private Ledger Group (2001-2002)


• Walnut Street Securities (2002-2005)


• Prospera Financial Services (2005-2006)


• VSR Financial Services (2006-2011)


• Capital Guardian (2011-2014)


• Sandlapper Securities (2015-2019)


• Dempsey Lord Smith (2019-present)

The Allegations 

• In February 2012, a customer alleged that Kevin Nevin, as a representative for his firm, had misrepresented investments, breached fiduciary duty, and acted negligently. The case was settled for $361,250 in damages.


• In May 2014, Kevin Nevin was suspended by FINRA in response to allegations that he had invested a total of $690,000 in private placements, receiving commissions that in the end totaled $37,000.  The findings also stated that Nevin had not given his member firm prior written notice of the intended investments, and as a result his member firm had never approved the transactions.  As a result of these findings Nevin was fined $37,000 and suspended from acting as a securities broker in all capacities for a total of six months.


• In September 2016, a customer alleged that Nevin had recommended unsuitable investments and had breached his fiduciary duty. Though the customer was seeking $50,000 in damages, this case was settled for an undisclosed amount.


• In March 2020, a customer alleged that Kevin Nevin had recommended unsuitable investments. This case is currently pending. The customer is seeking $300,000 in damages.

Breach Of Fiduciary Duty

A relationship between an investor and a broker is based on trust, and the foundation of this trust is the knowledge that brokers are bound by their duty as a fiduciary to always act in their customers’ best financial interests.  Brokers such as Kevin Nevin, who breach their fiduciary duty, erode that trust, and with that erosion a secure financial relationship between the two is no longer tenable.

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 due to this fraud or negligence 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 Jody Thompson, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.