A recent investor complaint disclosed on Jamestown, North Dakota financial advisor Paul Witthauer’s (CRD# 1672263) BrokerCheck report concerns allegations regarding...Read More
Paul Kim: $1.7 Million Investor Complaint Denied by Stifel Nicolaus
San Jose broker and investment advisor Paul Kim (CRD# 4219593) recently received an investor complaint alleging nearly $2 million in damages. Financial Industry Regulatory Authority records show that he is a representative of Stifel Nicolaus & Company and was fired from his previous position at Morgan Stanley.
Mr. Kim’s BrokerCheck report discloses one recent investor complaint against him. Filed in May 2022, it alleged that as as a representative of Stifel Nicolaus & Company, he failed to follow instructions between January 2022 and the present, resulting in losses. The complaint alleged damages of $1.7 million and was denied by the firm.
Mr. Kim’s BrokerCheck report additionally discloses his 2018 firing from Morgan Stanley. According to the disclosure, he was fired in relation to allegations concerning his “role in processing third-party wire transfer requests in ways inconsistent with Firm procedures.” The citation states further that he allegedly gave inaccurate information regarding verbal confirmations of wire transfer requests received by email, directed a firm employee “to process wires in ways inconsistent with Firm procedures,” and communicated “with an unauthorized party by email.” The disclosure concludes by noting he told the firm “the email requests were sent by an impostor.”
According to the Financial Industry Regulatory Authority, Paul Kim holds 21 years of securities industry experience. Based in San Jose, California, he has been a broker and investment advisor with Stifel Nicolaus & Company since 2018. His past registrations include Morgan Stanley (Cupertino, California; 2009-2018), Morgan Stanley & Co. (Cupertino, California; 2008-2009), Wells Fargo Investments (Half Moon Bay, California; 2003-2008), UBS Financial Services, Salomon Smith Barney, and Merrill Lynch. His credentials include the passage of six securities industry qualifying examinations: 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 Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Arizona, California, Florida, Indiana, Missouri, Nevada, Oregon, Texas, and Washington. (Information current as of June 13, 2022.)
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