What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: October 31, 2016

Stoltmann Law Offices continues to investigate Kevin Kuhlow, a registered broker who was recently barred from the industry. Kuhlow was a former broker with LPL Financial out of the firm’s Los Gatos, California office. According to the firm, LPL terminated him in February 2016 after he allegedly conducted unapproved investments in violation of firm policy. This is also sometimes referred to as “selling away,” and is when a broker participates in private securities transactions that are not offered or approved by his member firm. A broker uses this tactic in order to take commissions for himself, instead of sharing them with his firm. It is a particularly egregious offense. Kuhlow allegedly used Peninsula Wealth Management Group, Clear Mark Wealth Management, and Cammarano Insurance Services to sell promissory notes. Oftentimes, brokers sell these and other investments through side businesses as accountants, lawyers, real estate brokers or insurance agents to clients of those side practices. Kuhlow also failed to produce documents in a Financial Industry Regulatory Authority (FINRA) investigation against him, claiming that he violated LPL’s policies by directing clients to an unapproved investment.

According to his online FINRA BrokerCheck report, Kevin Kuhlow was registered with Waddell & Reed, Franklin Distributors, Great Western Financial Securities Corp, ASB Financial Services, WM Financial Services, Salomon Smith Barney, Wells Fargo Investments, and LPL Financial in Los Gatos, California from January 2005 until March 2016. He has seven customer disputes against him, two of which are currently pending. He is not licensed within the industry and FINRA has permanently barred him. Please call our securities law firm today if you have suffered investment losses because of Kevin Kuhlow. We may be able to sue his former firm, LPL, in the FINRA arbitration process on a contingency fee basis. The firm may be responsible for losses because they had a duty to reasonably supervise him while he was registered with them. 312-332-4200.

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If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

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