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Kevin Wesner: $1 Million Complaint Against UBS, Ex-Citi Advisor
A new investor complaint against Baltimore financial advisor Kevin Wesner (CRD# 2827165) alleges that his conduct resulted in damages of $1 million. Financial Industry Regulatory Authority records indicate that he is a broker and an investment advisor with UBS Financial Services, having previously been registered with Citigroup Global Markets.
Mr. Wesner’s BrokerCheck report discloses two investor complaints. The most recent, filed in December 2022, alleges that as a Citigroup Global Markets representative, he failed to follow instructions, acted negligently, and breached contract in connection with a life insurance investment. The pending complaint alleges damages of $1,000,000.
A second investor complaint, filed in 2011, alleged that as a representative of Citigroup Global Markets, he “engaged in unsuitable and excessive trading” in the customer’s accounts. In 2011 the complaint reached a settlement of $20,000.
In a statement included with the 2011 complaint’s disclosure, Mr. Wesner pushed back against the allegations, asserting that the settlement did not reflect any acknowledgement or admission of liability or misconduct on his part. “The investment recommendations and advice were suitable given the client’s objectives,” he wrote, continuing: “Citi Smith Barney, which denied all of the claims asserted by the customer, did not acknowledge or admit any liability or wrongdoing and resolved this issue strictly to avoid the potential cost and uncertainties of the arbitration forum.”
According to records provided by the Financial Industry Regulatory Authority, Kevin Wesner holds 26 years of securities industry experience. Based in Baltimore, Maryland, he has been a broker and an investment advisor with UBS Financial Services since 2008. His registration history includes Citigroup Global Markets (Baltimore, Maryland; 2006-2008) and Legg Mason Wood Walker (Baltimore, Maryland; 1997-2006). His credentials include the passage of seven securities industry qualifying exams: the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; 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 Arizona, California, Delaware, the District of Columbia, Florida, Georgia, Kentucky, Maryland, Nevada, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, and Virginia. (Information current as of January 22, 2023.)
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