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Understanding the Claims Against Broker Kevin Forbush

As a financial analyst and author, I take a keen interest in keeping you updated with the latest happenings on the investment scene. Today, I want to talk about broker Kevin Forbush who is associated with Larson Financial Securities. An investor has recently raised serious concerns, which are now a matter of public record, accessible through his BrokerCheck record.

The Heart of the Matter

So what exactly is going on? On December 27, 2023, an allegation surfaced that Kevin Forbush advised an investor into buying multiple insurance policies and entering into a limited partnership. The problematic areas highlighted include negligence, unsuitability, and breach of fiduciary duty.

The investor is seeking a significant sum for these claims – to the tune of over $7 million.

What Does Negligence Mean Here?

I believe it’s important to define negligence in this context. When we talk about broker negligence, we’re referring to actions like pitching investments that don’t fit, failing to disclose key information, or ignoring the investor’s directives – all of which can spell trouble for the investor’s financial health.

FINRA Rule 2111 and Unsuitability

Curious about what constitutes an unsuitable investment? FINRA Rule 2111 sheds light on this. It requires brokers to only suggest investment options that are consistent with the customer’s profile – including factors like their age, financial needs, and investment objectives.

The Broker’s Duty

It’s also useful to note that many brokers, who might also be Registered Investment Advisers (RIAs), uphold duties as per the SEC. They are expected to make decisions that prioritize their client’s best interest above all else.

Get to Know Kevin Forbush

Who is Kevin Forbush, the man at the center of these claims? For starters, he has gained significant industry knowledge, having passed notable examinations like:

Series 63 (Uniform Securities Agent State Law Examination)
Series 65 (Uniform Investment Adviser Law Examination)
Series 7TO (General Securities Representative Examination)
SIE (Securities Industry Essentials Examination)

He currently holds registrations as a broker and an investment adviser in states like Colorado, Florida, and Texas. Over three years, Kevin Forbush has been affiliated with several firms including Larson Financial Securities and IHT Wealth Management, to name a few.

Putting Things Into Perspective

If you’re an investor who has worked with Forbush, these allegations might concern you. It’s crucial, however, to reserve judgment as due process unfolds – after all, in the words of Benjamin Franklin, “an investment in knowledge pays the best interest.”

With that in mind, make sure to review Forbush’s record with FINRA. Being well-informed is integral to making sound investment decisions.

My Parting Thoughts

Navigating the investment world can be intricate, but awareness is your strongest ally. It’s essential to know who you’re dealing with and to ensure that their counsel aligns with your best interests.

As someone deeply invested in demystifying financial complexities for you, I encourage you to always stay vigilantly informed. To quote a sobering financial fact, “bad financial advisors” can sometimes go unchecked, with FINRA statistics indicating that some keep working despite multiple complaints – all the more reason to verify an advisor’s record, including their FINRA CRD number.

Stay alert, ask questions, and ensure your finances are carefully managed.

Thank you for joining me, and I wish you all the best on your investment journey.

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