Former Fresno financial advisor Steven Hirata (CRD# 1188927) was recently sanctioned by the Financial Industry Regulatory Authority for allegedly refusing...Read More
Investment Planners’ Christopher McKenzie: $499K Oil & Gas Complaint
Quincy, Illinois financial advisor Christopher McKenzie (CRD# 4164821) recently received an investor complaint alleging nearly half a million dollars in damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Investment Planners and IPI Wealth Management, respectively.
Mr. McKenzie’s BrokerCheck report discloses one investor complaint against him. Filed in June 2022, it alleges that as a representative of Investment Planners, he breached his fiduciary duty, engaged in negligence and negligent supervision, and recommended an unsuitable investment in an oil and gas product. The pending complaint alleges damages of $499,000.
In a statement on the pending complaint’s disclosure, Mr. McKenzie defended himself against the allegations, writing that he “will vigorously defend my position of innocence” and that the complaint “is directed at the wrong entity.”
For reference, the fiduciary standard holds that financial advisors must put their customers’ interests above their own, make full disclosures regarding any conflicts of interest, and act in good faith and with loyalty to the customer. It is similar to but distinct from the suitability standard that requires brokers to recommend investments that are appropriate for their clients’ background and objectives.
According to the Financial Industry Regulatory Authority, Christopher McKenzie holds 22 years of securities industry experience. Based in Quincy, Illinois, he has been registered as a broker with Investment Planners since 2000 and as an investment advisor with IPI Wealth Management since 2001. He has no prior registrations as a broker or an investment advisor. His credentials include the passage of three securities industry qualifying examinations: 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 is licensed in Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Michigan, Missouri, North Carolina, Texas, Virginia, and Washington. (Information current as of July 27, 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.