National investment loss lawyers KlaymanToskes is investigating barred broker Howard Kavinsky (CRD #5881623) of B. Riley Wealth Management.
According to FINRA BrokerCheck, Howard Kavinsky, a former broker at B. Riley Wealth Management, is facing a $760,000 customer complaint alleging misappropriation of client funds, including unauthorized removal of funds, and providing false and misleading information about account balances. Kavinsky was permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”) on December 20, 2024, in connection with findings that he falsified at least 190 consolidated account statements for at least eight customers, some of whom were seniors, by overstating the customers’ account balances and reflecting fictitious investments in a hedge fund.
Investors that suffered losses with broker Howard Kavinsky 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.
Howard Kavinsky has been permanently barred by FINRA in connection with findings that he falsified at least 190 consolidated account statements for at least eight customers by overstating the customers’ account balances and reflecting fictitious investments in a hedge fund, in violation of FINRA Rule 2010. According to FINRA BrokerCheck records, Howard Kavinsky is also the subject of a customer complaint alleging that he refused to provide the customers with copies of their statements, and that they believed their account balances were inaccurate. The customers are seeking $760,000 in alleged damages. The complaint further alleges that client funds have gone missing including qualified funds being removed from qualified accounts, and that the representative provided false and misleading information pertaining to account balances. B. Riley Wealth Management terminated Kavinsky’s registration before the customer complaint was filed, citing allegations including misrepresenting customers’ account values; creating unfounded customer statements purportedly from a clearing firm; and failing to forward potential customer grievances for further review by firm personnel.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. 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 Howard Kavinsky, or have concerns regarding your investment portfolio at B. Riley Wealth Management, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.