Financial Advisor Barbara Kenerson Under Investigation After Unsuitable Investments and Churning Complaint

financial-advisor-investigation-barbara-kenersonBarbara Kenerson (CRD# 1060984) is a previously registered securities broker and investment advisor (RIA).

From 1999 to 2018, Ms. Kenerson was employed at Janney Montgomery Scott at a branch office in Providence, Rhode Island.

Recently, a Janney Montgomery customer filed a complaint against Barbara Kenerson alleging that she purchased unsuitable investments within the brokerage account of the investor.

In addition, the customer also alleges that Ms. Kenerson excessively traded (churned) the account.

Investor Complaint: Former Janney Montgomery Scott Broker Barbara Kenerson

In January of 2019, a customer of Janney Montgomery Scott filed a FINRA arbitration claim alleging that former registered financial advisor Barbara Kenerson made unsuitable trades and ‘churned’ a brokerage account. In relation to the alleged misconduct, the investor is seeking $500,000 in compensatory damages. As of May of 2019, the complaint is still listed on BrokerCheck as ‘pending’.

Under securities industry rules (FINRA Rule 2111), registered representatives have a professional obligation to understand their client’s individual financial position and their overall investment objectives.

With this information, they have a duty to ensure that all guidance, recommendations, and trades are reasonably suitable for the customer given their unique situation. Should a broker fail to follow FINRA’s suitability rules, they can be held liable for resulting losses.

Find Out How Our FINRA Arbitration Lawyers Can Help

At Sonn Law Group, our securities arbitration attorneys are committed to helping investors recover for their losses. If you or your loved one was a victim of investment fraud or broker misconduct, please contact us today for a free consultation.

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