Securities Arbitration Lawyer Blog
Kevin Wilson is a stockbroker with Worden Capital Management LLC (“Worden Capital Management”) in New York, New York. Since December 2017, Mr. Wilson has been the subject of at least eleven customer complaints, most involving allegedly unsuitable recommendations of private placements.
If you have lost money with broker Kevin Wilson or Worden Capital Management, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential review of your legal rights.
Worden Capital Management
According to a 2017 investigation by Reuters, Worden Capital Management hired more brokers with a history of significant disclosures than all but twenty-four other firms in the country. In 2021, Iorio Altamirano LLP set out to update that analysis.
The investigation revealed that fifty-four percent (54%) of Worden Capital Management’s brokers and supervisors have significant “red flag” public disclosures. Significant red flag disclosures include:
- regulatory sanctions,
- terminations of employment after allegations of misconduct,
- customer disputes that result in an award or settlement, and
- prior association with a firm that FINRA has expelled.
You can read the full investigative report here: Investigative Report: Worden Capital Management LLC’s Owners, Executives, and Brokers Have Concerning Red Flag Disclosures
Mr. Wilson is one of the brokers who had serious incidents reported on his BrokerCheck report.
Financial Kevin Richard Wilson (CRD No. 3262701)
Mr. Wilson has 21 years of experience in the securities industry and has been associated with nine different broker-dealers. He averages just over two years at each stop. In November 2019, he was hired by Worden Capital Management.
Prior Associations
Mr. Wilson has been affiliated with the following brokerage firms:
- Worden Capital Management, from November 2019 to the present.
- National Securities Corporation, from August 2017 to December 2019.
- Laidlaw & Company (UK) Ltd., from October 2010 to September 2017.
- Aegis Capital Corp., from December 2008 to November 2010.
- Gilford Securities Incorporated, from August 2006 to January 2009.
- Westminster Securities Corporation, from March 2005 to September 2006.
- Casimir Capital L.P., from June 2001 to April 2005.
- Kuhns Brothers Securities Corporation, from November 2002 to March 2003.
- Sands Brothers & Co., LTD., from November or July 2001.
Customer Complaints
According to his BrokerCheck report, since December 2017, Mr. Wilson has been the subject of at least eleven customer disputes:
- Customer Dispute (February 2021): A customer filed a securities arbitration complaint alleging $100,000 in damages as a result of unsuitable investment recommendations related to private placements and equity positions (common and/or preferred stock). The alleged conduct occurred when Mr. Wilson was employed by Laidlaw & Company (UK) Ltd. The dispute is pending.
- Customer Dispute (January 2021): A customer filed a securities arbitration complaint alleging $400,000 in damages as a result of unsuitable investment recommendations related to private placements. Wilson was registered with National Securities Corp at the time the alleged conduct occurred. The dispute is pending.
- Customer Dispute (July 2020): A customer filed a securities arbitration complaint alleging $130,000 in damages as a result of unsuitable investment recommendations related to private placements. The dispute was settled by Laidlaw & Company (UK) Ltd for $62,500.
- Customer Dispute (November 2019): A customer filed a securities arbitration complaint alleging unsuitability and over-concentration of private placement investments. The customer is seeking $1.6 million in damages from Laidlaw and Company (UK) Ltd. and Mr. Wilson. The dispute is pending.
- Customer Dispute (May 2019): A customer filed a securities arbitration claim alleging that Mr. Wilson made unauthorized trades. The customer is seeking approximately $90,000 in damages from Laidlaw and Company (UK) Ltd. and Mr. Wilson. The dispute is pending.
- Customer Dispute (May 2019): A customer filed a FINRA arbitration complaint alleging unsuitability and over-concentration of private placement investments and sought $300,000 in damages. The dispute was settled by Laidlaw & Company (UK) Ltd for $70,000.
- Customer Dispute (April 2019): A customer filed a FINRA arbitration complaint alleging unsuitability and over-concentration of private placement investments and sought $440,000 in damages. The dispute was settled by Laidlaw & Company (UK) Ltd for $225,000.
- Customer Dispute (November 2018): A customer filed a securities arbitration claim alleging $500,000 in damages as a result of unsuitable investment recommendations related to private placements and equity positions (common and/or preferred stock). The dispute was settled by Laidlaw & Company (UK) Ltd for $85,000.
- Customer Dispute (October 2018): A customer filed a securities arbitration complaint alleging $2 million in damages as a result of unsuitable investment recommendations related to private placements. Wilson was registered with Laidlaw & Company (UK) Ltd at the time the alleged conduct occurred. The dispute is pending.
- Customer Dispute (July 2018): A customer filed a securities arbitration claim alleging unsuitability and over-concentration of private placement investments. The customer is sought $457,000 in damages from Laidlaw and Company (UK) Ltd. and Mr. Wilson. The dispute was settled for $29,500.
- Customer Dispute (December 2017): A customer complained directly to Laidlaw and Company (UK) Ltd. that Mr. Wilson made material representation concerning a private placement investment. The customer did not file a securities arbitration claim. Laidlaw & Company (UK) Ltd denied the customer any monetary compensation, and the matter was closed.
Worden Capital Management LLC, National Securities Corporation, Laidlaw & Company (UK) Ltd – Supervisory Duties
Brokerage firms like Worden Capital Management LLC, National Securities Corporation, Laidlaw & Company (UK) Ltd must properly supervise financial advisors and customer accounts. Brokerage firms must also establish and maintain a reasonably designed system to oversee account activity to ensure compliance with securities laws and industry regulations. When a brokerage firm fails to sufficiently supervise its financial advisors or the investment account activity, it may be liable for investment losses sustained by customers.
How to Recover Financial Losses or Obtain a Free Consultation
If you or a loved one were a customer of Kevin Wilson, Worden Capital Management LLC, National Securities Corporation, or Laidlaw & Company (UK) Ltd and either sustained financial losses or suspect that Mr. Wilson did not have your best interest in mind when recommending investments or account transactions, contact New York securities arbitration attorney August Iorio of Iorio Altamirano LLP. August Iorio can be reached at august@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. Iorio Altamirano LLP pursues FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by stockbrokers and brokerage firms.