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Kenji Saito: Ex-Centaurus Advisor Lands $75K Bond Complaint
Santa Barbara financial advisor Kenji Saito (CRD# 5695201) allegedly sold an unsuitable and high-risk bond investment, according to a recent investor complaint. Records provided by the Financial Industry Regulatory Authority and the Securities and Exchange Commission show that the former Centaurus Financial broker is currently an investment advisor with HBW Advisory Services.
Mr. Saito’s BrokerCheck report discloses two investor complaints. The most recent, filed in June 2023, alleges that as a representative of Centaurus Financial, he recommended an unsuitable, illiquid, and high-risk corporate bond investment. (For reference, FINRA Rule 2111 stipulates that brokers must recommend investments which they have a reasonable basis to believe are suitable for their customers’ investment profiles.) The pending complaint alleges damages of $75,000.
An earlier investor complaint, filed in 2021, similarly alleged that as a Centaurus Financial representative, he recommended an investment strategy that involved “an unsuitable, high-risk and illiquid” real estate investment. In 2022 the complaint reached a settlement of $35,500.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Kenji Saito holds 13 years of securities industry experience. Based in Santa Barbara, California, he has been an investment advisor with HBW Advisory Services since 2020. He was previously registered with Centaurus Financial in Santa Barbara from 2009 until 2019. His credentials include the passage of four securities industry qualifying exams: the General Securities Principal Examination, or Series 24; 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 as an investment advisor in California. (Information current as of August 27, 2023.)
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