The securities lawyers with the Law Offices of Steven D. Urban are investigating claims of investors and clients of Charles Ernest Kenahan (“Kenahan”) who works with Bank of America and/or Merrill Lynch, Pierce, Fenner & Smith, Inc. (“Merrill Lynch”) in Boston, Massachusetts. In the last two months, at least two of Mr. Kenahan’s clients have made complaints or filed arbitration claims alleging that Mr. Kenahan and/or Merrill Lynch acted improperly regarding those clients’ accounts. These customer claims include allegations that Mr. Kenahan excessively traded customer accounts, made unsuitable investment recommendations, exposed them to unnecessary risk and failed to act in the best interest of his customers.
All brokers are required to make only suitable recommendations to their clients and manage their clients’ investments appropriately. That means that brokers like Mr. Kenahan are supposed to consider a client individually and consider that client’s willingness to take risks, age, and other factors – like whether the client is retired – into account when deciding what investments to recommend. Moreover, brokers are forbidden from trading excessively in a client’s account where the only conceivable benefit of doing so is generating commission income for the broker.
If you are or were a customer of Charles Kenahan with Merrill Lynch and believe you lost money as a result of misconduct related to your accounts or investments there, contact the Law Offices of Steven D. Urban for an evaluation of your account(s) to determine whether you have a claim some or all of your damages and losses. All communications will be kept strictly confidential and you won’t be billed for your consultation.
Steven D. Urban and Robert Kantas of the Law Offices of Steven D. Urban have been representing aggrieved investors against their financial advisors for the better part of two decades. We have represented investor clients nationwide in Federal and State Courts and in arbitration before the Financial Regulatory Authority (FINRA), The American Arbitration Association (AAA), JAMS and other private arbitrators.