David Robert Kennon, Formerly of First Allied Securities, Facing Pending Customer Disputes Alleging Various Misconduct

INVESTORS: Former First Allied Securities broker David Robert Kennon is facing two pending customer disputes alleging unsuitable recommendations, overconcentration, misrepresentations, failure to supervise, and breach of contract.

David Robert Kennon (CRD: 4459476) was registered as a broker with First Allied Securities from 2012 until 2019. Previously, Kennon was registered as a broker with Woodbury Financial Services from 2009 until 2012.

Kennon has three disclosures on his BrokerCheck report. 

July 2021 Customer Dispute

• Status: Pending
• Allegations: Claimant alleges their registered representative recommended unsuitable investments. Claimant generally alleges unsuitability, due diligence, breach of contract, and fraud.
• Damage Amount Requested: $100,000.01
• Broker Comment: This claim is against the firm (First Allied Securities Inc.) who approved an investment that did poorly. I am no longer associated with First Allied Securities Inc. I am not named in the complaint. I am not financially responsible for any judgement. Please do not let this reflect negatively on my practice. Please understand that lawyers aggressively solicit lawsuits such as this.

July 2021 Customer Dispute

• Status: Pending
• Allegations: Claimant alleges unsuitability, overconcentration, negligence, misrepresentations, failure to supervise, and breach of contract.
• Damage Amount Requested: $250,000.00
• Broker Comment: This client lost money in an investment that focused on hotels and the hospitality industry. Due to Covid, the investment performed poorly. Unfortunately, there are very aggressive lawyers who solicit people to file claims against financial advisors. This claim is against the firm (First Allied Securities Inc.) who approved this investment. I am no longer associated with First Allied Securities Inc. I am not named in the complaint. I am not financially responsible for any judgement. Please do not let this reflect negatively on my practice.

April 2018 Customer Dispute

• Status: Settled
• Allegations: Claimant alleges that her advisor recommended unsuitable investments in “risky” and “speculative” investments. Claimant alleges negligence, misrepresentation, failure to supervise, and breaches of duty and contract.
• Damage Amount Requested: $80,000.00
• Settlement Amount: $24,000.00
• Broker Comment: I disagree with, and strongly deny, claimant’s allegations. Claimant was fully aware of, and understood, any and all risks associated with her investments. I was surprised and disheartened to learn she has made these allegations. Overall, her investments were properly diversified and have performed well. I have not misrepresented any facts to this client. This matter has been settled and no longer in arbitration.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding David Robert Kennon. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.