Alex Kline Allegedly Sold Unsuitable Investments
Alex Kline (CRD# 1271785), a broker registered with Cambridge Investment Research, recommended unsuitable investments, according to investor disputes. MDF Law is investigating the Pittsburgh-based financial professional for similar conduct. Investors with concerns about their accounts should reach out for a free consultation.
More information about the Duncan Financial Group representative’s conduct follows below. This post is based on a February 8, 2024 review of his BrokerCheck profile, a Financial Industry Regulatory Authority (FINRA) resource.
Pending Disputes Seek 6-Figure Damages
Two parties of investors filed disputes involving Mr. Kline in the last year. In both cases, the claimants alleged that he recommended unsuitable investments in real estate products. One alleges further that he failed to present the product’s risks; the other alleges that he misrepresented the product. The disputes, which remain pending, seek at least $610,000 in damages.
Alex Kline Denies Allegations
Mr. Kline issued a statement defending against allegations contained in one of the disputes. Asserting that the investment “was suitable for the client,” he added that it offered tax benefits to the client, and that he presented “multiple options” before the investor selected the product. “In 2023, the program went public resulting in a devaluation,” he concluded, writing that he “had no knowledge of the changes that would eventually be made to the investment.”
Past Disputes Alleged Misrepresentation, Suitability Violations
Between 2000 and 2021, five other parties of investors filed disputes involving Mr. Kline. These claims detailed allegations of unsuitable investment recommendations, misrepresentation of material information, breach of contract, and and breach of fiduciary duty. His former member firms settled the disputes for a total of more than $261,000.
What Is Duncan Financial Group?
As his BrokerCheck profile reflects, Mr. Kline is a representative of Duncan Financial Group. His profile on the company’s webpage notes that he is a Senior Vice President and Retirement Specialist with the firm. “In recent years, the growing complexity of the financial and regulatory environment has demanded trained experts, not jacks-of-all-trades,” the firm’s “About Us” page explains. “That’s why we’ve recruited experienced professionals with the capabilities to work on cross-disciplinary teams in order to meet your specific needs.”
FINRA: Kline Based in Pittsburgh
Alex Kline launched his career as a broker in 1984. That was the year he joined First Investors Corporation, which he left later that year for Managed Investments. Over the course of his career, he has worked at firms including Travelers Equities, Walnut Street Securities, and Prospera Financial Services. He registered with his current member firm, Cambridge Investment Research, in 2011. He remains there to this day, working out of its office in Pittsburgh, Pennsylvania.
MDF Law Has Recovered More than $100 Million
If you lost money working with Alex Kline, you may have recovery options. MDF Law’s seasoned team of investor advocates has secured more than $100 million in recoveries for our clients. We only collect a fee if you win your case, which you may have a limited window to file. Call us today at 800-767-8040 for a free consultation.