Kevin Duffy: $124K ETF Complaint Against Raymond James Advisor

Multiple investor complaints against Louisville financial advisor Kevin Duffy (CRD# 4481935) allege that he recommended unsuitable investments to his customers. Financial Industry Regulatory Authority records indicate that he is a broker and an investment advisor with Raymond James & Associates.

Mr. Duffy’s BrokerCheck report discloses two investor complaints. The most recent, filed in December 2022, alleges that as a representative of Raymond James & Associates, he recommended unsuitable investments in exchange-traded funds. The pending complaint alleges damages of $124,208.58.

A second investor complaint, filed in 2009, alleged that as a representative of Merrill Lynch, he misrepresented material facts and recommended an unsuitable mutual fund investment. In 2010 the complaint reached a settlement of $105,000. Information about FINRA Rule 2111, which requires brokers to recommend investments that are suitable for a customer’s background and objectives, is available here.

According to the Financial Industry Regulatory Authority, Kevin Duffy holds 20 years of securities industry experience. Based in Louisville, Kentucky, he has been a broker and an investment advisor with Raymond James & Associates since 2008. He was previously registered with Merrill Lynch in Louisville from 2002 until 2008. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; the Futures Managed Funds Examination, or Series 31; and the Securities Industry Essentials Examination, or SIE. He is licensed in Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, New Hampshire, North Carolina, Texas, and West Virginia. He is licensed with five self-regulatory organizations (SROs): FINRA, NYSE American, Nasdaq PHLX, the Nasdaq Stock Market, and the New York Stock Exchange. (Information current as of January 14, 2023.)

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