Investor Accuses Kestra Broker Stephen Curry in $7.7M FINRA Complaint

Breach of Fiduciary Duty Involving Retirement Fund Alleged

Stephen Fergus Curry, a longtime Kestra Advisory Services registered representative, is named in a nearly $7.8M Financial Industry Regulatory Authority (FINRA) complaint accusing him of breach of fiduciary duty over services performed related to a retirement fund. 

Curry has been with Kestra for 13 years. First, he was with Kestra Investment Services and now he’s with Kestra Advisory Services. He also is a registered investment adviser. Before he joined Kestra, Curry was a Waterstone Financial Group broker from 2006 to 2007. He also worked as an investment advisor with NFP Advisor Services from 2007 to 2016. 

If you are or were a customer of Stephen Curry’s and you experienced investment losses, our skilled retirement losses lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) would like to talk to you. We represent investors who lost their retirement or savings because a broker mishandled their account.  

Retirement Losses Caused By Broker Fraud or Negligence 

Most Americans will spend the bulk of their lives hard at work building their savings. Many will entrust a brokerage firm and its registered representatives to preserve, invest, or grow their funds. Yet, retirement plan mismanagement happens all the time, as do incidents of deliberate misappropriation.

It doesn’t help that many of the retirement vehicles that exist weren’t designed to handle this type of savings, but, rather, they were more for setting up a savings plan or a tax shelter. Even the rising surge in popularity of 401(K)s was because employers found them cost-effective. The result has been that investors’ retirement funds and accounts are now more vulnerable to market fluctuations and broker mismanagement.

Barred Kestra Broker Also Blamed for Investors’ Retirement Losses 

Curry is not the only Kestra Investment Services registered representative that SSEK Law Firm is investigating for broker fraud allegations as part of a FINRA complaint. James Daughtry, who was barred by FINRA, has been accused by several investors of stealing more than $1M from their retirement funds.

Inadequate Supervision 

Brokerage firms have a duty to properly supervise their registered representative to ensure that no fraud or negligence happens and that customers’ retirement funds and other savings are protected. These broker-dealers should be held liable if inadequate supervision leads to an Individual Retirement Account (IRA) losses or those involving another type of brokerage account. 

Unnecessary losses to an investor’s retirement funds don’t even have to involve outright fraud or willful misconduct. It can be as simple as a broker encouraging a customer to roll over their pension distributions or 401(K) funds to an IRA at the firm, causing them to lose money in the process.

Skilled Retirement Losses Lawyers 

Allow our skilled retirement losses attorneys at SSEK Law Firm are here to help you explore your legal options. We represent retirees, older investors, and other investors in FINRA arbitration, litigation, and mediation. We have recovered many millions of dollars on our clients’ behalf and we work with investors nationwide, as well as those abroad with broker fraud claims against US-based broker-dealers and their registered representatives. 

Contact SSEK Law Firm today for a free, no-obligation case consultation.

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