Columbus, Ohio financial advisor Tom Bates (CRD# 1037294) allegedly gave misleading investment advice, according to a recent investor complaint. Financial...Read More
Brenden King: $300K Mutual Fund Complaint Against Indianapolis Advisor
Charles Schwab & Company representative Brenden King (CRD# 6685362) has received an investor complaint alleging his advice resulted in six-figure losses. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Indianapolis, Indiana.
Mr. King’s BrokerCheck report discloses one investor complaint. Filed in March 2022, it alleges that as a representative of Charles Schwab & Company, he provided poor advice in March 2020 when he recommended the sale of “multiple mutual funds” in the customer’s account. The pending complaint alleges damages of $300,000.
For reference, FINRA Rule 2111 requires that brokers conduct reasonable diligence into an investor’s profile in order to determine whether an investment is suitable for them. A failure to understand an investment’s potential risks and rewards is considered a violation of Rule 2111. Suitability requirements, to be clear, are not fiduciary requirements, which require investment advisers to place their customer’s interests over their own interests. Brokers who recommend unsuitable products and/or strategies may be held liable in the event of damages; they may also be subject to disciplinary action by securities regulatory authorities.
According to the Financial Industry Regulatory Authority, Brenden King holds five years of securities industry experience. Based in Indianapolis, Indiana, he has been a broker and an investment advisor with Charles Schwab since 2019. He was previously registered with Fidelity Brokerage Services in Highland Park, Illinois from 2016 until 2018. 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 August 30, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.