DID Mike Kilpatrick CAUSE YOU INVESTMENT LOSSES?
Mike Kilpatrick Of Centaurus Financial, Inc. Has 3 Customer Complaints For Alleged Broker Misconduct
About Mike Kilpatrick of Centaurus Financial, Inc.?
Mike Kilpatrick (CRD #1278618) has a lengthy career in the securities industry, currently registered with Centaurus Financial, Inc. in Camarillo, California, since August 2011. Kilpatrick has over three decades of experience, previously working with firms such as Linsco/Private Ledger Corp., IDS Life Insurance Company, and American Express Financial Advisors, Inc. He is licensed in 4 U.S. states and territories and has passed one principal/supervisory exam, four general industry/product exams, and two multi-state securities law exams. Kilpatrick’s extensive career reflects a significant breadth of experience in financial services.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Mike Kilpatrick Customer Complaints and Reviews
Mike Kilpatrick has multiple disclosures, including regulatory actions, customer disputes, a termination, and several tax liens:
- Regulatory Action (Final)
- Date Initiated: July 20, 2010
- Allegations: Kilpatrick signed customers’ names on various documents without authorization, in violation of firm procedures, and failed to amend his Form U4 to disclose material information.
- Outcome: Kilpatrick was fined $7,500 and suspended for six months, from August 16, 2010, through February 15, 2011.
- Customer Dispute 1 (Settled)
- Filed: September 5, 2008
- Allegations: The client claimed that Kilpatrick placed their funds into unsuitable annuities and signed their name on a letter of authorization.
- Outcome: The case was settled on November 17, 2008, for $40,000, with no financial contribution from Kilpatrick.
- Customer Dispute 2 (Settled)
- Filed: June 2, 2003
- Allegations: The client alleged unsuitable investment recommendations, unauthorized trading, and elder abuse, leading to losses exceeding $1 million.
- Outcome: The case was settled on September 2, 2004, for $73,807. Kilpatrick was dismissed from the case and did not contribute to the settlement.
- Customer Dispute 3 (Pending)
- Filed: June 11, 2024
- Allegations: The client alleges that Kilpatrick recommended unsuitable, high-risk, illiquid investments and breached his fiduciary duty.
- Current Status: The dispute is pending with claimed damages of $150,000.
- Termination
- Date: September 21, 2007
- Reason: Kilpatrick was discharged from Linsco Private Ledger for placing customer signatures on forms without authorization and failing to cooperate with compliance staff and disclose a tax lien.
Allegations Against Mike Kilpatrick
- Unauthorized Signatures: Kilpatrick was found to have signed customer names on documents without proper authorization, which led to a regulatory action resulting in a fine and suspension.
- Unsuitable Investment Recommendations: Several customer disputes allege that Kilpatrick made unsuitable investment recommendations, particularly involving annuities and other high-risk products.
Mike Kilpatrick Red Flags & Your Rights As An Investor
Of course, Mike Kilpatrick did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Mike Kilpatrick at Centaurus Financial, Inc. on alert to review carefully the activity and performance of their accounts and question whether Mike Kilpatrick has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Centaurus Financial, Inc. also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Centaurus Financial, Inc. Due To Mike Kilpatrick
If you have questions about Centaurus Financial, Inc. and/or Mike Kilpatrick and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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