What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: January 12, 2016

Stoltmann Law Offices is investigating Christopher Fernan of Freedom Investors Corp and Randall Heller of KCD Financial. Both men were named in a Statement of Claim by Russell A. Kazda and Christine A. Kazda and were accused of misrepresenting and omitting material facts, negligence and negligent supervision. Randall Heller recommended to the clients that they invest in Behringer Harvard Opportunity REIT I. He told them that it was an extremely conservative investment in real estate and that they would realize substantial gains from the investment. He allegedly used high-pressure sales tactics to recommend the securities to them. The investment subsequently went down 15% almost as soon as it was purchased. Massive commissions were charged to the clients. The securities were actually high-risk, illiquid investments. A broker has a duty to recommend securities based on a client’s net worth, age, investment suitability and investment objectives. Both clients were in their 50s and the investments were not suitable for them. Heller referred clients to Fernan, who then engaged in options trading in their accounts, resulting in almost $77,845 in actual damages.

Christopher Fernan was registered with Wells Fargo Advisors in Smithtown, New York from June 2011 until September 2011, Global Arena Capital Corp in Melville, New York from February 2012 until April 2013, Freedom Investors Corp in Brookfield, Wisconsin from April 2013 until June 2014 and Rockwell Global Capital in Melville from June 2014 until November 2015. He is currently registered with Salomon Whitney Financial and has been since December 2015, according to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report. He has two customer disputes against him, both are currently pending. He has one criminal disposition against him.

Randall Heller was registered with Waddell & Reed, Pruco Securities, Metropolitan Life Insurance Company, MetLife Securities, The Prudential Insurance Company of America, Fortis Investors Inc., and Waterstone Financial Group. He is currently registered with KCD Financial in Oak Lawn, Illinois. He has one customer dispute against him and it is currently pending.

If you or someone you know invested money with Fernan or Heller, their firms, Freedom Investors Corp and KCD Financial, can be sued in the FINRA arbitration forum to recover investment losses. The call is free and please call as soon as possible as time is of the essence with these sorts of cases. We take cases on a contingency fee basis only, which means we only make money if you recover yours.



The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.


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