Kerry Wills, with First Western Securities, Suspended from Securities Industry
Have you lost money with financial advisor Kerry Wills from Manhattan Beach, California? We are looking into allegations made by FINRA (the Financial Industry Regulatory Authority) against Kerry Dean Wills. FINRA suspended him from the securities industry for six months and fined $10,000. Wills was being investigated regarding allegations that he borrowed money from a 90-year-old customer of his brokerage firm, First Western Securities, without disclosure to the firm. Wills borrowed $150,000 from the customer and only made one payment back to the customer before he died.
Kerry Wills has been a registered representative and financial advisor with First Western Securities from 2009 to the present. He worked out of a branch office in Manhattan Beach, California.
Broker-dealers like First Western Securities have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in California. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
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