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

Kevin Rainwater is a Georgia-based securities broker who has worked in the securities industry for seventeen years. During his career, he has been registered with five different firms.

His Registrations 

  • Manequity (1998-2000)
  • Stancorp Equities (2002-2007)
  • Stancorp Investment Advisers (2003-2007)
  • ACG Wealth (2010-Present)
  • Arkadios Capital (2017-Present)

The Allegations 

  • In April 2019, a customer alleged that Kevin Rainwater had made material misrepresentations about unsuitable investments. This case was settled for $90,000 in damages.
  • In February 2020, a customer alleged that Rainwater had recommended unsuitable investments from March 2017 to present. This case is currently pending for $100,000 in damages.
  • In March 2020, a customer alleged that Rainwater had recommended unsuitable investments from September 2017 to present. This case is currently pending for $125,000 in damages.
  • In March 2020, a customer alleged that Rainwater had executed unauthorized and unsuitable trades from early 2017 to present. This case is currently pending for $650,000 in damages.

What Does This Mean?

Misrepresentation is a very serious charge. Essentially, it occurs when a securities broker provides their customer with information that has been falsified in some way. This can be either by accident, through the broker’s own negligence, or on purpose, through the broker’s fraudulent intent. Regardless of the broker’s intent, misrepresentation can cause serious financial harm to investors as it can lead to them making crucial financial decisions based on misinformation. For instance, if an investor is falsely told that 8 percent income distributions are “guaranteed” then it could lead to them purchasing a high-risk security that is highly unsuitable given their investment objectives, financial situation, or risk tolerance.

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 Kevin Rainwater, 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.