An investor complaint against Hilltop Securities advisors Brad Winges (CRD# 1929509) and Steve Coma (CRD# 1414147) alleges eight-figure damages. Financial...Read More
Walter Valenzuela: Kestra Rep Has Several Investor Complaints
Walter Valenzuela (CRD# 2280224), a broker and investment adviser in San Diego, California, has received several investor complaints in recent years. According to records provided by the Financial Industry Regulatory Authority (FINRA), Valenzuela is currently registered with Kestra Investment Services.
Walter Valenzuela’s BrokerCheck report lists a total of 13 disclosures, including settled, pending, denied and closed investor complaints. The most recent is a complaint filed in March 2021, alleging that as a representative of Hilltop Securities, Valenzuela made unsuitable municipal bond recommendations; the pending complaint alleges damages of $280,000.
A complaint filed in 2020 alleged that as a representative of Hilltop Securities, Walter Valenzuela “did not fully disclose the risk” involved with investments in an Invesco Steelpath mutual fund and a Chesapeake corporate bond. The complaint reached a settlement of $87,000.
Another 2020 complaint alleged that as a Hilltop Securities rep, Walter Valenzuela misrepresented material facts and recommended investments that performed poorly. The complaint reached a settlement of $88,000.
A third complaint filed in 2020 alleged that while at Hilltop Securities, he engaged in excessive trading, made unsuitable recommendations, misrepresented material facts, and committed elder abuse. The complaint reached a settlement of $90,000.
A fourth complaint filed in 2020 alleged that while at Hilltop, he recommended unsuitable investments, misrepresented facts, made excessive trades, and committed elder abuse. The complaint reached a settlement of $625,000.
Financial Industry Regulatory Authority (FINRA) records show that Walter Valenzuela holds 28 years of experience in the securities industry. He has been a registered broker and investment adviser with Kestra Investment Services in San Diego, California since April 2020. His previous registrations include Hilltop Securities in Del Mar, California and ML Sterns & Company in San Diego, California. He has passed three securities industry qualifying examinations: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He currently holds 11 state securities registrations. (Information current as of June 10, 2021.)