Articles Tagged with NPC

Stoltmann Law Offices is investigating Kenneth Saunders, who is currently associated with National Planning Corporation (NPC). Saunders has been subject to six customer complaints, some of which involve direct participation products (DPPs) such as non-traded real estate investment trusts (REITs) and other alternative investments. Saunders has also disclosed outside business activities, including Saunders Investment & Tax Advisory Group, Inc., Heron Bay Association and Parke Place HOA. Most recently, a complaint was filed against him alleging that he recommended unsuitable investments causing $150,000 in damages. That claim is currently pending. All of these are against securities rules and regulations. A broker must take into account a customer’s age, net worth, investment sophistication and investment objectives, among other things, when recommending an investment. If he does not, his brokerage firm may be held responsible for losses. Please call our securities law firm today to speak to an attorney about your options of bringing legal recourse against NPC if you suffered losses with Kenneth Saunders.

According to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Saunders was registered with First American National Securities in Duluth, Georgia from May 1986 until July 1990, North American Management in Sioux Falls, South Dakota from August 1990 until June 1996, Walnut Street Securities in El Segundo, California from June 1996 until December 1996 and Investors Capital Corp in Coral Springs, Florida from January 1997 until November 2013. He is currently registered with NPC in Coral Springs and has been since October 2013. He has six customer disputes against him, one of which is currently pending.

Stoltmann Law Offices is investigating Christopher P. Jordan, and his financial firm, National Planning Corporation (NPC) for allegedly selling at least one elderly client unsuitable investments. Allegedly, Jordan sold an 88-year old client an Allianz variable annuity, and FS Investments private placement, and a KBS non-traded REIT. These securities tend to be risky and illiquid and complex investments, and are sold to investors by their brokers so the broker can generate large commissions. A broker is required to conduct due diligence to understand the features of any product he sells, perform a reasonable analysis and provide disclosure about the risks and rewards associated with the particular product. If he does not, his brokerage firm can be liable for investment losses.

Jordan was registered with Cigna Securities in Radnor, Pennsylvania from May 1991 until April 1992, Nathan & Lewis Securities in New York, New York from April 1992 until November 1995 and Royal Alliance Associates in New York from November 1995 until February 2000. He is currently registered with NPC in Tarrytown, New York and has been since February 2000.

Stoltmann Law Offices is investigating Stephen Joesph Kipp and his firm, National Planning Coporation (NPC). The Financial Industry Regulatory Authority (FINRA) received a complaint regarding Kipp’s handling of one of his customer accounts. NPC contacted a registered representative about his review and approval of the customer’s account and transactions. NPC received a written response from the customer stating that he had not reviewed the customer’s new account form nor the order memoranda relating to the customer’s transactions. The investigation into it revealed that Julie Ann Pritchard had put the signatures on the customer’s account. The complaint also indicated that Kipp authorized Pritchard to sign his name, who signed it to at least 160 separate documents that were intended to become business records of the firm. Pritchard was Kipp’s administrative assistant at the NPC. By signing the 160 documents, they became inaccurate for reporting purposes. For this, Stephen Joseph Kipp was suspended for 20 days from any FINRA member firm in any capacity and fined $8,000. NPC can be sued to recover financial losses. Please call us to find out how at 312-332-4200. Our attorneys take cases on a contingency fee basis and we concentrate on recovering investment losses for investors.

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