Phillip Anderson: Kingswood Rep Has $250,000 Complaint

Roseville, California stockbroker Phillip Anderson (CRD# 814936) has received pending investor complaints alleging his investment advice caused losses. Financial Industry Regulatory Authority records show that he is registered as a broker with Kingswood Capital Partners in Roseville. He is also registered as an investment adviser with Resurgent Financial Advisors and Hayden Royal.

Mr. Anderson’s BrokerCheck report discloses two pending investor complaints against Mr. Anderson. Both complaints were filed in 2021. One alleges that as a representative of Kingswood Capital Partners, he made investment recommendations involving alternative investments that “resulted in over concentration in illiquid products.” The pending complaint alleges damages of $30,000. A second complaint alleges that as a representative of Niagara International Capital, he “used false information and material omissions” to cause the investor to purchase “unsuitable, illiquid, risky private placements.” The complaint alleges further that he represented one particular investment as “a growth fund that would garner 7-8% return per year,” allegedly omitting that it was in fact an illiquid and unregistered private placement. The pending complaint alleges damages of at least $250,000.

An older complaint disclosed on Mr. Anderson’s BrokerCheck report was filed in 1993. It alleged that as a representative of Hartford, he recommended an unsuitable annuity contract. The complaint resolved with a settlement of $38,295.

According to the Financial Industry Regulatory Authority, Phillip Anderson holds 39 years of securities industry experience. He is now registered with Kingswood Capital Partners, Resurgent Financial Advisors, and Hayden Royal in Roseville, California. His past registrations include Niagara International Capital (2017-2018), Wells Fargo Advisors (2010-2017), Merrill Lynch (1996-2010), Edward D. Jones & Co., Carillon Investments, PML Securities Company, and NML Equity Services. His credentials include the passage of six securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Registered Representative Examination, or Series 1; and the General Securities Principal Examination, or Series 24. He holds securities licenses in California, North Carolina, Utah, and Virginia. (Information current as of March 14, 2022.)

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