Records filed with a US bankruptcy court show that at least one former client of Newbridge Financial Services advisor Nick...Read More
David Lerner Advisor Michael Kinkel: $100K REIT Complaint
White Plains financial advisor Michael Kinkel (CRD# 5947093) allegedly provided misleading investment advice, according to a recent investor complaint. Records maintained by the Financial Industry Regulatory Authority indicate that he is currently registered as a broker with David Lerner Associates.
Mr. Kinkel’s BrokerCheck report discloses one investor complaint. Filed in March 2023, it alleges that he misrepresented material facts and provided a “poor recommendation” as well as “poor advice” regarding an investment in real estate investment trusts, or REITs. The pending complaint alleges damages of $100,000. In a statement included with the claim’s disclosure, Mr. Kinkel writes; “The allegations do not include misappropriation, forgery, theft or conversion of funds or securities.”
Investors should be aware that FINRA rules prohibit brokers like Mr. Kinkel from misrepresenting material information regarding the investments and strategies they recommend to their customers. FINRA Rule 2020 specifically stipulates that no FINRA representative shall “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Representatives who make misrepresentations regarding investments may be held liable in the event of losses and/or subject to disciplinary action by securities regulators.
According to the Financial Industry Regulatory Authority, Michael Kinkel holds eleven years of securities industry experience. Based in White Plains, New York, he has been registered as a broker with David Lerner Associates since 2011. He holds no previous registrations. 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 Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Connecticut, Florida, Indiana, Maryland, Missouri, Montana, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Texas, Vermont, Virginia, Washington, and West Virginia. (Information current as of May 9, 2023.)
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.