Were you the victim of former Woodstock Financial Group, Inc. broker Blake Kiernan (CRD# 4477243)?. Blake Kiernan was registered with Four Points Capital Partners LLC in Melville, New York from 2013 to 2014. Previously, Blake Kiernan was registered with Woodstock Financial Group, Inc. in Garden City, New York from 2008 to 2013.
In August 2020, FINRA suspended Blake Kiernan indefinitely after he “Respondent Kiernan failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.”
Blake Kiernan Faces Suitability Complaints
Blake Kiernan has been the subject of four customer complaints between 2015 and 2018 according to his CRD report:
- May 2018. “Blake Kiernan was named in a customer complaint that asserted the following causes of action: unsuitability and overconcentration; churning, excessive trading and commission abuse; failure to supervise; breach of fiduciary duty; negligence; fraudulent misrepresentation; breach of contract; and respondeat superior.” The customer was awarded $238,653.48 in damages. The complaint was regarding common and preferred stocks and took place while Blake Kiernan was registered with Woodstock Financial Group, Inc.
- March 2017. “Fraud, excessive trading, churning, unauthorized trading, Iowa consumer fraud, breach of fiduciary duty, unsuitability, breach of contract, negligent unjust enrichment.” The customer sought $200,000 in damages and the customer was granted $108,750.
- June 2015. “Unsuitability, Failure to Supervise, Breach of Fiduciary Duty. The account was open from August 2012 – November 2013.” The customer is seeking $108,825 in damages and the case is currently pending. The complaint was regarding equity OTC.
- April 2015. “Churning, unsuitability, unauthorized trading, negligence, breach of contract, misrepresentation, disciplinary history. Statement of claim did not list dates but the account traded from 07/06/09 – 10/17/13.” The customer sought $197,656.98 in damages and the case was settled for $71,500. The complaint was regarding equity OTC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Woodstock Financial Group, Inc. may be liable for investment or other losses suffered by Blake Kiernan’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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