Colorado Based LPL Rep Kim Kennedy Involved in Two Pending Arbitrations

Kimberly Kennedy (CRD# 1487140), the Denver-based LPL Financial broker, allegedly recommended unsuitable investments, according to Financial Industry Regulatory Authority (FINRA) records accessed on November 2, 2021. The complaints seek as much as $735,000 in cumulative damages. If you have complaints regarding Ms. Kennedy, call MDF Law at 212-203-9300 for a free consultation. You may be able to recover losses.

Customers: Kim Kennedy Misrepresented REITs, BDCs

In August 2021 a customer alleged that Kim Kennedy, while associated with Forta Financial Group, made unsuitable investment recommendations, breached her fiduciary duty, and breached contract in connection to investments in non-traded real estate investment trusts (REITs) and business development companies (BDCs). The customer is seeking between $100,000 and $500,000 in damages in the pending complaint.

In 2020 a party of customers alleged that Kim Kennedy, while employed at Forta Financial Group, made misrepresentations of material facts, acted negligently, recommended unsuitable securities, and breached her fiduciary duty in connection to investments in fixed annuities and non-traded REITs and BDCs. The customer is seeking $235,000 in damages in the pending complaint.

Kim Kennedy Defends Recommendations: “Forces Beyond Our Control”

In her “Broker Statement” on the 2020 complaint, Kim Kennedy describes the complainants as a former client and colleague. The investments in question were part of a retirement plan, she states, whose strategy “was diverse including safe investments, income producing investments, and growth investments.” She concludes by stating that the market value of the BDCs “did not perform how any of us expected due to forces beyond our control.”

LPL Broker Currently Based in Denver, Colorado

Kim Kennedy has spent 17 years in the securities industry and has been registered with LPL Financial in Denver and Lakewood, Colorado since 2017. Her previous registrations include Presidential Brokerage in Greenwood Village, Colorado (2012-2017); Valic Financial Advisors in Houston, Texas (2007-2012); Farmers Financial Solutions in Lakewood, Colorado (2005-2007); and Invesco Distributors in Houston, Texas (2002-2004). She has passed five securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), obtained on June 30, 2011; Series 65 (Uniform Investment Adviser Law Examination), obtained on May 18, 2007; SIE (Securities Industry Essentials Examination), obtained on October 1, 2018; Series 7 (General Securities Representative Examination), obtained on November 3, 2008; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), obtained on October 4, 2002. She holds 24 state securities licenses, including registrations in Arizona, California, Colorado, Idaho, Illinois, Maine, Maryland, Michigan, Oregon, Tennessee, Texas, Virginia, Washington, and Wyoming.

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