Austin Arata: Kinecta Advisor Receives $340K Complaint

Torrance, California financial advisor Austin Arata (CRD# 6448739) allegedly made unauthorized transactions, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with LPL Financial, doing business as Kinecta Financial & Insurance Services.

Mr. Arata’s BrokerCheck report discloses one investor complaint. Filed in March 2024, it alleges that as a representative of LPL Financial, he executed unauthorized variable annuity transactions in a customer’s account. The pending complaint alleges damages of $340,000.

In a statement included with the pending complaint’s disclosure, Mr. Arata denies the allegations and describes the claim as meritless. “All recommendations and investment strategies made for the customer were suitable and consistent with the customer’s investment objectives and risk tolerance,” he writes. “The customer fully understood all risks involved in investing in all products after speaking with me and reviewing the documentation.”

Kinecta Financial’s website includes a profile of Mr. Arata in which he describes his background and approach to working with his clients. “Building relationships with my clients and understanding their unique financial goals and aspirations is at the core of my approach,” he states. “One of the greatest values I can offer is education. I take the time to thoroughly explain each step of the financial planning process, ensuring they are comfortable and well-informed about every decision we make together. Empowering my clients with knowledge gives them confidence in their financial journey.”

According to the Financial Industry Regulatory Authority, Austin Arata holds nine years of securities industry experience. Based in Torrance, California, he has been registered as a broker and an investment advisor with LPL Financial since 2015, doing business as Kinecta Financial & Insurance Services. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He holds 33 state licenses. (Information current as of June 6, 2024.)

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