Broker Investigation: Jacob Kagele

Jacob Kagele (CRD#: 4606475) is a previously registered securities broker. Most recently, Mr. Kagele was employed at Mutual Securities, Inc. (2009-2017), based in Tucson, Arizona. This broker has also been associated with Wells Fargo Advisors Financial Network and Merrill Lynch, Pierce, Fenner & Smith.

According to the most recent investigation from the Financial Industry Regulatory Authority (FINRA), Jacob Kagele has two disclosures on his BrokerCheck report. Both involved customer disputes that were settled. Here, our investment fraud attorneys provide an overview of the investor complaints.

FINRA Complaints: Jacob Kagele

The first complaint was filed in August of 2016. In this cases, a high-net-worth investor alleged that Mr. Kagele made unsuitable trades and mismanaged his account through material misrepresentations and other misleading statements. This complaint was eventually settled for $1,250,000. That being said, Mr. Kagele provided a comment indicating that he still finds the complaint entirely without merit, but that he settled to limit his total legal fees.

The second complaint was brought in November 2017. In this case, the customer alleged that this broker breached his fiduciary duties by making misleading statements and unsuitable investment recommendations. Eventually, this complaint was settled for $57,825 in compensation.

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At the Sonn Law Group, we have advocated for investors for nearly three decades. If you were the victim of securities fraud, broker negligence, or any other form of misconduct, we have the skills and experience to help. For your free initial consultation, please call our law office now.

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