National investment loss lawyers KlaymanToskes is investigating broker Phillip Anderson (CRD# 814936) formerly of Kingswood Capital Partners and Niagara International Capital.
According to FINRA BrokerCheck, Phillip Anderson, a former broker at Kingswood Capital Partners and Niagara International Capital, has been suspended by the Financial Industry Regulatory Authority (“FINRA”) due to findings that he made recommendations to senior retail customers that were unsuitable based on the customers’ investment profiles by recommending that that they invest in speculative, unrated corporate bonds.
Investors that suffered losses with broker Phillip Anderson are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Phillip Anderson, who used to work as a broker for Kingswood Capital Partners and Niagara International Capital, has been suspended by the Financial Industry Regulatory Authority (FINRA). Anderson was fined $10,000 and suspended for five months. FINRA’s investigation found that Anderson’s recommendations to his customers resulted in at least 96 percent and 35 percent of their respective net worth, not including primary residence, being invested in the bonds. Anderson earned a total of $8,280 in commissions in connection with these recommendations. A customer and a beneficiary of the other customer each brought and settled an arbitration against Anderson’s member firm relating to the bond investments.
Phillip Anderson was registered as a broker with Niagara International Capital from March 2017 to June 2018 in Roseville, CA. Anderson was then registered with Kingswood Capital Partners from June 2018 to June 2023.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Phillip Anderson. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Phillip Anderson, or have concerns regarding your investment portfolio at Kingswood Capital Partners and/or Niagara International Capital, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.