Close Menu
Free Consultation: 888-976-6111

Kenneth Blumberg: $100K Fraud Complaint Against Hunt Valley Advisor

Stifel Nicolaus & Company financial advisors Kenneth Blumberg (CRD# 1585520) recently received an investor complaint alleging his advice resulted in damages of up to half a million dollars. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Hunt Valley, Maryland. 

Mr. Blumberg’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in March 2022, alleges that as a Stifel Nicolaus representative, he recommended unsuitable investments, misrepresented material information, committed fraud, breached his fiduciary duty, acted negligently, and over-concentrated investments. The pending complaint alleges damages between $100,000 and $500,000. 

A second investor complaint, filed in 2017, alleged that while he was a Stifel Nicolaus representative, he breached contract, acted negligently, breached his fiduciary duty, and violated securities laws and rules. The complaint evolved into an arbitration proceeding before a FINRA panel, which in 2019 issued an award to the customer of $1,524,176.

A third investor complaint, filed in 2003, alleged that he committed fraud, breached contract, breached his fiduciary duty, committed fraud, churned investments, and misrepresented material facts while at Salomon Smith Barney. In 2004 the complaint reached a settlement of $27,000.

According to the Financial Industry Regulatory Authority, Kenneth Blumberg holds 35 years of securities industry experience. Based in Hunt Valley, Maryland, he has been a broker and an investment advisor with Stifel Nicolaus & Company since 2007. His past registrations include Ryan Beck & Company (Baltimore, Maryland; 2005-2007), Citigroup Global Markets (New York, New York; 1993-2005), and Lehman Brothers (New York, New York; 1986-1993). His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Connecticut, the District of Columbia, Florida, Georgia, Maryland, New York, North Carolina, Ohio, Pennsylvania, and West Virginia. (Information current as of September 3, 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.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Morgan Stanley, Merrill Lynch Face Deferred Compensation Claims

    A number of advisors have filed claims against investment firms in connection with allegations that the firms illegally withheld their...

    Read More
  • Bruce Beetz: $300K Complaint Against Emerson Equity Advisor

    Hollister, California financial advisor Bruce Beetz (CRD# 1527269) allegedly recommended an unsuitable investment, according to a recent investor complaint. Financial...

    Read More
  • John Pigeon: $120K Complaint Against Osaic Advisor

    Fall River, Massachusetts financial advisor John Pigeon (CRD# 2354079) recently received an investor complaint alleging that his conduct resulted in...

    Read More
  • Skip Chatelain: Prospera, Dorsey Advisor Faces $100K-$500K Complaint

    A recent investor complaint against Metairie, Louisiana financial advisor Skip Chatelain (CRD# 4192942) alleges that his conduct resulted in six-figure...

    Read More
  • Previous
  • Next