KEVAN EDWARD MCNAUGHT is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 543 PROMONTORY DRIVE, LOVELAND, CO, 80537.
KEVAN EDWARD MCNAUGHT has worked at LPL FINANCIAL LLC since February 10, 2010
Disclosure History
KEVAN EDWARD MCNAUGHT has 2 Disclosure Event(s).
Date: February 08, 2010 Category: Customer Dispute Allegations: THE CLIENT ALLEGES THAT THEIR INVESTMENT WAS UNSUITABLE AND MISREPRESENTED TO THEM. Damage Amount Requested: $294,000.00 Settlement Amount: $50,000.00 Broker Comment: THE SECURITY WHICH WAS THE SUBJECT OF THE [CUSTOMERS'] COMPLAINT WAS NOT INITIALLY PURCHASED THROUGH PRIMEVEST. RATHER, IT WAS TRANSFERRED FROM A PRIOR FIRM. THE [CUSTOMERS] HELD THE SECURITY FOR APPROXIMATELY 12 YEARS, RECEIVING MONTHLY DIVIDENDS, QUARTERLY STATEMENTS, ANNUAL AUDITS, AND EVEN OCCASIONALLY ADDING TO THEIR POSITION. THEY NEVER COMPLAINED ABOUT THE SECURITY DURING THIS ENTIRE PERIOD. SHORTLY AFTER I LEFT PRIMEVEST, I LEARNED THAT THEIR SON, WITH 20-20 HINDSIGHT, ALLEGED THAT THE SECURITY WAS UNSUITABLE. IT WAS THEIR SON, A SOPHISTICATED AND EXPERIENCED INVESTOR, WHO HAD USED HIS POWER OF ATTORNEY OVER HIS PARENTS' ACCOUNT TO PURCHASE MORE OF THE SUBJECT SECURITY JUST BEFORE THE HISTORIC MARKET DECLINE OF 2008, THEN COMPLAINED THAT IS WAS UNSUITABLE.
Date: September 03, 2001 Category: Customer Dispute Allegations: CUSTOMER ALLEGED THAT UNSUITABLE INVESTMENT PURCHASED IN HER ACCOUNT. Damage Amount Requested: $11,290.69 Broker Comment: MCDONALD INVESTMENTS INC. THOROUGHLY INVESTIGATED THE COMPLAINT AND FOUND IT TO BE WITHOUT MERIT.
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