UPDATE! KYUSUN KIM or “Kenny Kim” of Independent Financial Group
Kyusun Kim, formerly of Independent Financial Group, Subject of Arizona Corporation Commission Complaint
Have you lost money with financial advisor Kyusun Kim of San Diego, California? We are continuing our investigation into allegations made by the Arizona Corporation Commission against Kyusun or “Kenny” Kim. Kim was the subject of this complaint because he was previously barred by FINRA (the Financial Industry Regulatory Authority). Kim was barred from the securities industry by FINRA after he was alleged to have recommended that his clients liquidate their 401(k)s to make concentrated investments in non-traded REITs (or real estate investment trusts) and structured notes. FINRA alleged that these recommendations were unsuitable, because non-traded REITs are speculative and illiquid.
Kyusun Kim was a financial advisor and registered representative of Independent Financial Group from 2006 to March 2016. He also worked with Sandlapper Securities from March 2016 to April 2017. He worked at a branch office in San Diego, California. Kim’s BrokerCheck report discloses that he was the subject of 23 customer complaints, many alleging misrepresentations and unsuitable trades.
Brokerage firms like Independent Financial Group have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including numerous investors in California, including victims in the San Diego area. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Independent Financial Group.
Click to view: Kim, Kyusun Arizona Complaint
Click to view: Kim, Kyusun Kenny BrokerCheck 6.26.18
Click to view: Kim, Kyusun FINRA AWC
Read Related Article: WARNING! Investigation of KYUSUN KIM of San Diego, CA
If you lost money with Kyusun Kim or Independent Financial Group, please CONTACT US at 720-599-3505 for a free evaluation of your case.