What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: November 5, 2015

Stoltmann Law Offices is investigating John D. Kavaler, a former broker with Ameriprise Financial Services, who recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). He is accused of recommending that three of his customers invest in a security known as iPath S&P 500 V1X Short Term Futures (VXX), which was a highly volatile exchange-traded note. His strategy to sell the notes MAY NOT HAVE BEEN suitable to his client’s investment objectives. The VXX tracks market negativity as reflected in the prices of futures contracts, and has severe risks. An investment advisor must take into account his client’s net worth, age, investment strategy and savvy and portfolio before recommending a security. If he does not, his firm can be sued in the FINRA arbitration forum to recover investment losses. Kavaler’s customers suffered losses.

Kavaler was registered with Lehman Brothers in New York, New York from May 1987 until April 1992, Prudential Securities Inc. in New York from March 1992 until May 1993, Gruntal & Co. in New York from June 1993 until June 1998, Josephthal & Co. in New York from August 1998 until June 1999, AXA Advisors in New York from October 2001 until August 2004, Quick & Reilly in New York from August 2004 until October 2004, Banc of America Investment Services in Boston, Massachusetts from October 2004 until January 2009 and Ameriprise Financial Services in Charlestown, Massachusetts from January 2009 until November 2013.   He is not currently registered with any member firm and has seven customer disputes against him. He is not licensed within the industry.

If you invested and lost money with John D. Kavaler, you may be able to sue Ameriprise for not properly supervising him while he was registered there. We sue firms like Ameriprise in the FINRA arbitration forum. Please call our securities law firm at 312-332-4200 to speak to an attorney for free. Time is of the essence so please call as soon as possible. We take cases on a contingency fee basis only.



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