In February, 2017 the Certified Financial Planner Board’s Commission of Discipline and Ethics disciplined certified financial planner Adam Kuettel by suspending his CFP certification for a period of ten months; from February 2017 through December, 2017.
Kuettel, of Bentonville, Arkansas was previously registered with Veritas Independent Partners, St. Bernard Financial Services and Ausdal Financial Partners
The suspension arises from a FINRA enforcement action in which Kuettel entered into a letter of acceptance, waiver and consent (“AWC”) with FINRA that calls for a suspension of ten months and a $10,000 fine. While suspended from FINRA Kuettel is not permitted to act as a registered representative or affiliate himself with any FINRA firm for the purpose of selling securities.
Both the CFP Board and FINRA cited Kuettel’s conduct in assisting investors purchase stocks and warrants in a private securities transaction, made outside his member firm. Outside business activities, also known as selling away are a violation of FINRA rules if done without prior permission from a member firm. The CFP Board found that Kuettel failed to timely notify them of the suspension.
Registration and disciplinary history
In order to lawfully sell investments to the public, a registered rep must either be registered or exempt from registration. Adam Kuettel was registered with:
Veritas Independent Partners: August, 2014 – December, 2014
St. Bernard Financial Services: February, 2013 – August, 2014
Ausdal Financial Partners: October, 2012
According to FINRA’s CRD disclosure report, Adam Kuettel has been the subject of one regulatory investigation.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.