James Kirchner, Formerly of David A. Noyes & Company, Accused of Making Unsuitable Investment Recommendations

Kirchner allegedly recommended alternative investments that were not suitable for his customer.

The Sonn Law Group is investigating allegations that James Kirchner recommended unsuitable investments. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

James Kirchner (CRD#: 2852217) has been registered with three broker-dealers since 2018. From 2019 to 2020, Kirchner was a broker with Cabot Lodge Securities. For an 8-month period in 2019, Kirchner was employed by IFS Securities. From 2014 until 2018, Kirchner was a broker with David A. Noyes & Company.

Kirchner has eight disclosures on his BrokerCheck report.

March 2020 Customer Dispute

• Status: Settled
• Allegations: “Customer alleges that alternative investments recommended were not suitable.”
• Damage Amount Requested: $175,000.00
• Settlement Amount: $90,000.00

January 2020 Customer Dispute

• Status: Settled
• Allegations: “Customers allege that investments made in private placements during 2016 and 2017 may be unsuitable.”
• Damage Amount Requested: $300,000.00
• Settlement Amount: $145,000.00
• July 2019 Customer Dispute
• Status: Settled
• Allegations: “Customer alleges 2016 investment made in private placement is unsuitable.”
• Damage Amount Requested: $100,000.00
• Settlement Amount: $50,000.00

May 2019 Customer Dispute

• Status: Settled
• Allegations: “Customer alleges that investments made in private placements were unsuitable.”
• Damage Amount Requested: $275,000.00
• Settlement Amount: $165,000.00

June 2018 Customer Dispute

• Status: Settled
• Allegations: “Customer alleged the representative never explained margin to him fully, resulting in his being sold out in some positions during a market downturn.”
• Damage Amount Requested: $200,000.00
• Settlement Amount: $15,000.00

June 2014 Employment Separation After Allegations

• Firm Name: Merrill Lynch, Pierce, Fenner & Smith
• Termination Type: Discharge
• Allegations: “Conduct relating to altering a client document.”
• Broker Comment: “On June 4, 2014, I met with a client to re-title an existing TOD account into a trust. I erred in completing two sections when only one applied on the trustee certification. Subsequently I received a signed LOA dated June 15, 2014, on June 30, 2014. The firm rejected the certification due to my error. I reprinted the certification first  page completing only one section. I believed my actions were consistent with firm policy regarding clerical errors and my clients’ intention. The resubmitted certification was also rejected. I then learned my client passed away on June 25, 2014. I believed I had made an honest mistake, but was terminated on July 25th, 2014.”

September 2009 Customer Dispute

• Status: Denied
• Allegations: “Time Frame: July 21, 2008  – September 17, 2009 client alleges that his FA failed to follow his instructions to sell 10,000 shares of MWY at $4.20 a share. The alleged damages are estimated to be in excess of $5,000.”
• Damage Amount Requested: $5,000.00

February 2001 Customer Dispute

• Status: Award / Judgment
• Allegations: “Claimant alleges unauthorized and unsuitable trades; unauthorized disbursement of funds.”
• Damage Amount Requested: $14,595.21
• Settlement Amount: $15,642.26
• Broker Comment: “I am aware of the award granted by the arbitration panel. I contend, however, that I have not and would not do anything that would be detrimental to a client of mine. I acted in good faith, and in accordance with the client’s wishes.”

Contact Us Today

The Sonn Law Group is currently investigating allegations that James Kirchner made unsuitable investment recommendations. 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.