Robert Kully Involved in Suitability Disputes
Robert Kully (CRD# 3212528), formerly a broker registered with Western International Securities, recommended unsuitable investments, according to investor disputes. MDF Law is investigating the former Omaha, Nebraska-based financial professional for similar conduct. Former clients who suffered losses in their accounts should reach out to us for a free, confidential consultation.
If you are interested in learning more about the allegations involving Mr. Kully, continue reading. The information in this post is sourced from his BrokerCheck profile, a Financial Industry Regulatory Authority record examined on February 26, 2025.
Pending Dispute Alleges “Unsuitable and Misleading” Recommendation
On December 6, 2024, an investor lodged a dispute involving Mr. Kully. In the claim, they allege that he made an “unsuitable and misleading” recommendation to invest in a corporate bond product. The dispute, which is still pending, seeks $50,000 in alleged damages.
Past Disputes Alleged Misrepresentation, Unsuitability
Between 2022 and January 2024, three other parties of investors filed disputes involving Mr. Kully. These claims included allegations of fraudulent misrepresentations or omissions, breach of fiduciary duties, and unsuitable recommendations. Like the above-described claim, they stemmed from investments in corporate bonds. His former member firm settled the disputes for more than $109,000 in total.
Industry Rules Require Suitable Recommendations
FINRA, a private corporation regulating its member broker-dealer firms, forbids brokers like Mr. Kully misleading investors or recommending unsuitable products. One of many important rules, FINRA Rule 2111 makes clear that brokers must ensure their recommendations are tailored to a client’s profile. They must ascertain an investment’s suitability through a reasonable diligence process, assessing whether it is appropriate for the customer’s background and needs.
A similarly important standard is Rule 2020, which forbids the use of “manipulative, deceptive, or other fraudulent device[s] or contrivance[s]” by brokers effecting or inducing securities transactions. Then there’s the SEC’s Regulation Best Interest, which requires advisers to perform “reasonable diligence, care, and skill” to ensure that recommendations are in a client’s interest.
FINRA: Robert Kully Last Based in Omaha, Nebraska
Mr. Kully started working as a broker in 2000, when he registered with GWR Investments in Omaha, Nebraska. He went on to work with firms including VSR Financial Services, Crown Capital Securities, and Financial West Group. He joined his most recent member firm, Western International Securities, in 2018, and worked at its Omaha branch office until 2023. With 22 years of experience as a broker, he has completed four industry exams, including the Series 7.
Investment Losses? Call MDF Law Today
Have you suffered losses on investments recommended by Robert Kully? You may be able to pursue the recovery of losses through the FINRA arbitration process. Call MDF Law at 800-767-8040 to receive a free consultation with our team. Our experienced investor advocates accept cases on a contingency basis, meaning you only pay a fee if you win your case: no hourly fees. Your time to file a claim may be limited, so please call today.