Jody Holt Fired by Kenai Investments: Excessive Trading Allegations

Borger, Texas financial advisor Jody Holt (CRD# 6405025) was fired by a former member firm in connection to allegedly excessive trading. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that he is an investment advisor with Holt Wealth Management; he was previously an advisor with Kenai Investments and a broker with Raymond James Financial Services.

Mr. Holt’s BrokerCheck report describes his February 2022 termination by Kenai Investments. According to the disclosure, he was fired in relation to allegations he “engaged in excessive trading in 2 client accounts and ran advertisements prior to those advertisements being approved by compliance.” The disclosure provides no additional information on the matter.

A FINRA resource released in 2020 describes excessive trading, also referred to as quantitative unsuitability, as “the situation where a broker makes a large number of trades in a customer’s account not to benefit the customer but to generate commissions for the broker.” A more severe form of excessive trading is referred to as churning, in which a broker engages in excessive trading “with either an intent to defraud or with reckless disregard for the customer’s interests.” More information on potential red flags of excessive trading can be found via FINRA. 

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Jody Holt holds seven years of securities industry experience. Based in Borger, Texas, he has been an investment advisor with Holt Wealth Management since May 2022. His past registrations include Kenai Investments (Borger, Texas; 2016-2022) and Raymond James Financial Services (Borger, Texas;  2015-2016). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed as an investment advisor in Texas. (Information current as of July 6, 2022.)

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