Merrill Lynch Broker Charles Kenahan Faces Allegations of Making Unsuitable Investments and Excessive Trading
The investment fraud lawyers at Meyer Wilson are looking into multiple allegations that Merrill Lynch Broker Charles Kenahan made unsuitable investment recommendations and excessive trades.
Kenahan is currently employed with Merrill Lynch, Pierce, Fenner & Smith in Boston, Massachusetts. He has been with the firm since December 2007. During his career, Kenahan was also registered with Morgan Stanley and Smith Barney.
According to BrokerCheck, three customers have recently come forward alleging that Kenahan made unsuitable investment recommendations and engaged in excessive trading, or "churning," while he worked at Merrill Lynch. The misconduct allegedly took place between December 2007 and February 2018.
Recover Your Losses Through Securities Arbitration
Brokers are obligated to make investment recommendations that are suitable for their clients. To be suitable, an investment must be consistent with the goals and objectives of the client. The client's needs including his or her net worth, life savings, age, investor experience, tax consequences, and other factors should be considered when determining whether an investment is suitable. Where an account has been churned or excessively traded, the activity is not suitable for anyone, regardless of their investment objectives.
Investors who lost money while working with Charles Kenahan may be entitled to recoup their losses through securities arbitration. If you suspect that recommendations made by Kenahan or another broker were unsuitable for your needs, you are encouraged to contact the investment loss attorneys at Meyer Wilson. Since we accept cases on a contingency basis, you won't pay any fees unless we recover money on your behalf. Give us a call today at (888) 390-6491.
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