Haselkorn & Thibaut has opened an investigation into John Jay Kersey, a former financial advisor based in Cincinnati, Ohio, who was affiliated with Northwestern Mutual Investment Services. If you or someone you know invested with John Jay Kersey (CRD# 1480524), this resource will walk you through what happened, highlight warning signs, and explain the potential recovery options for affected investors. Our team encourages anyone with concerns to contact Haselkorn & Thibaut at 1-888-885-7162 for a free consultation—there is no obligation, and you pay nothing unless there is a recovery.
Who Is John Jay Kersey?
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John Jay Kersey was a registered broker and investment advisor for over 37 years, most recently working out of Cincinnati, OH with Northwestern Mutual Investment Services, LLC (CRD #2881). Over the course of his career, Kersey was registered with 10 different broker-dealer firms and managed investments for numerous clients across several states. As of February 13, 2024, he is permanently barred by FINRA—the financial regulatory authority overseeing broker-dealers—from working in the securities industry in any capacity.
Haselkorn & Thibaut’s National Investigation
Haselkorn & Thibaut, a national securities fraud law firm, is currently investigating complaints and potential investor claims involving John Jay Kersey and Northwestern Mutual Investment Services. Our team brings more than 50 years of combined experience, a 98% client success rate, and a national presence to help investors recover lost funds due to financial advisor misconduct.
Current Status: Barred, Facing Criminal Charges, and Multiple Settlements
| Status | Barred by FINRA (permanent) |
|---|---|
| Criminal Charges | Pled guilty to wire fraud (pending resolution) |
| Last Employer | Northwestern Mutual Investment Services, Cincinnati, OH |
| Years in Industry | 37 years, 10 firms |
Complete List of Complaints, Disputes, and Firm Actions
Kersey’s FINRA BrokerCheck record (see full report) and internal data reflect 17 total disclosures, including multiple customer complaints and regulatory actions. Below is a summary of the key allegations and events:
- Permanent FINRA Bar (February 13, 2024): Kersey was barred after failing to respond to FINRA’s requests for information.
- Criminal Charge (Wire Fraud): Pled guilty to wire fraud (charges filed June 18, 2025). Resolution is still pending.
- Pattern of Fund Misappropriation: Numerous customers allege they wrote personal checks directly to Kersey (not the firm) based on misrepresentations that the money would be invested for their benefit. Firms show no record of these deposits.
- False Documentation: Allegations that Kersey created false account statements overstating investment account values to hide misappropriation.
- Admitted Misconduct to Employer: In May 2023, Northwestern Mutual permitted Kersey to resign after he admitted to taking customer money and depositing it into non-firm accounts.
- Prior Regulatory History: In 1999, fined and suspended for mishandling customer funds.
Specific Customer Complaints and Settlements
| Date/Status | Type | Details | Outcome/Amount |
|---|---|---|---|
| Nov 4, 2024 / Settled | Customer Dispute | Customers wrote checks to Kersey, believing funds invested in their account. | $958,884.00 Settled |
| Oct 4, 2024 / Settled | Customer Dispute | Alleged $106K misdirected for ‘bond fund’ with no firm record. | $106,219.00 Settled |
| June 27, 2024 / Settled | Customer Dispute | Checks written to Kersey under false pretenses for investment. | $142,703.46 Settled |
| Multiple / 2023-2024 | Customer Disputes | Similar allegations of money provided to Kersey—no firm records. | Several (amounts confidential or undisclosed) Settled |
| May 24, 2023 | Employment Separation | Permitted to resign after admitting to fund misappropriation. | Admitted to taking customer money |
| Nov 11, 1999 | Regulatory Action | Mishandling of customer funds; fined and suspended | $7,500 fine, 1-month suspension |
Red Flags for Investors
- Directing Personal Checks to Advisor: Any time a financial advisor asks clients to issue checks payable to themselves or related entities, rather than the investment firm, this is a major warning sign.
- False or Unverifiable Account Statements: Providing “statements” that cannot be independently validated with the investment firm.
- Advisor Provides Unverifiable Performance Data: Inflating or fabricating account values to mislead investors about the true performance or balance of their investments.
- Inconsistent Communication or Evasive Responses: Avoiding documentation or email trails, preferring verbal updates or off-the-record discussions.
- Multiple Settled and Pending Complaints: A pattern of customer complaints (as with Kersey) often points to systemic issues. Review your advisor’s BrokerCheck record regularly.
How Can Investors Who Lost Money Recover?
If you invested with John Jay Kersey at Northwestern Mutual Investment Services (Cincinnati, OH) or any prior firm and believe you may have been misled or suffered financial losses, Haselkorn & Thibaut is available to help. Our attorneys focus exclusively on investor claims and have recovered millions of dollars for clients nationwide. Investors may pursue claims in FINRA arbitration or other legal forums; time limits may apply, so it’s important to review your situation right away.
We encourage any investor with questions or concerns to call Haselkorn & Thibaut at 1-888-885-7162 for a no-cost, confidential evaluation. Our team will review your documentation and provide guidance. Since we work on a contingency basis, there is no fee unless you recover money.
What Should You Do Now?
- Gather any statements, emails, and communications you received from John Jay Kersey or Northwestern Mutual.
- Check whether investment transactions were properly recorded at the firm, not just at the advisor’s word.
- Contact Haselkorn & Thibaut (1-888-885-7162) or use the consultation form for guidance.
Your Next Steps: Contact Haselkorn & Thibaut
Dealing with investment losses can be overwhelming, but you are not alone. Haselkorn & Thibaut’s experienced legal team is dedicated to assisting investors nationwide and is actively investigating the full extent of complaints against John Jay Kersey and
