Comprehensive Investor Alert: Kevin F. Duffy – Former Raymond James & Merrill Lynch Advisor in Louisville, KY
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Haselkorn & Thibaut, a national law firm focused exclusively on investment fraud with over 50 years of experience and a 98% success rate, has launched an independent investigation into Kevin F. Duffy (CRD #4481935), an ex-advisor in Louisville, KY, formerly associated with Raymond James & Associates, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated. If you invested with Kevin Duffy and have questions about account losses or possible mismanagement, read this comprehensive report, including a complete summary of all known complaints and critical information for investors.
Who is Kevin F. Duffy?
Kevin F. Duffy is a former stockbroker and financial advisor whose career was centered in Louisville, Kentucky. His registration history includes:
- Raymond James & Associates, Inc. (Louisville, KY) — Employed from December 2008 to July 2023
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (Louisville, KY) — Employed from February 2002 to December 2008
Mr. Duffy is currently not registered with any FINRA-member broker-dealer. He has previously passed the Series 7, Series 31, SIE, and Series 66 exams and also listed a business affiliation with “Hooterville Farm” in Greenville, IN.
Investor Red Flags: Complaints and Allegations on Kevin Duffy’s Record
| Year | Firm | Nature of Complaint | Allegations | Outcome |
|---|---|---|---|---|
| 2019–2023 | Raymond James & Associates (Mutual Funds) | Breach of Fiduciary Duty | Client alleged Kevin Duffy neglected fiduciary responsibilities when recommending mutual funds. | Settled for $150,000 in August 2023 |
| 2009–2010 | Merrill Lynch (Mutual Funds) | Suitability & Misrepresentation | Customer claimed unsuitable investments and misrepresentation in mutual funds. | Settled for $105,000 in June 2010 |
| 2022–2023 | Raymond James & Associates (ETFs) | Suitability | Written complaint alleging unsuitable ETF recommendations, seeking $124,208.58. | Denied on May 24, 2023 |
Key issues identified:
- Unsuitability: Alleged recommendations inconsistent with investor objectives and risk tolerance, which may violate FINRA Rule 2111 (Suitability) and the SEC’s Regulation Best Interest.
- Breach of Fiduciary Duty: Claims that Mr. Duffy neglected responsibilities to clients when recommending certain mutual funds.
- Misrepresentation: Previous arbitration regarding false or misleading statements about investment products.
There are no public allegations of unauthorized trading or disciplinary actions for fraud specific to discretionary accounts.
Is Kevin F. Duffy Still a Registered Broker?
No. Kevin F. Duffy is currently not registered with any FINRA-member broker-dealer as of mid-2024. This status means he is not authorized to act as a broker or investment adviser on behalf of FINRA-regulated firms.
Regulatory & Legal Profile
- No current regulatory suspensions, fines, or investigations reported by FINRA, the SEC, or state regulators.
- No public civil litigation or bankruptcy filings in the available record.
- No history of financial disclosures or disciplinary actions outside of the notable customer dispute settlements listed above.
For the latest official status, always check FINRA BrokerCheck (CRD 4481935).
Why Investors Should Pay Close Attention
Significant settlements—including a $150,000 payout—suggest that some of Kevin Duffy’s clients experienced losses due to potential breaches of industry standards. Allegations such as unsuitable investment recommendations and a lack of fiduciary care are serious under securities regulations.
Even if a case is marketed as “denied” or “settled,” it’s crucial for investors to realize that regulatory and legal settlements don’t always translate into accountability or restitution for all affected clients. The broad pattern of complaints, especially regarding suitability and misrepresentation, can be critical indicators for anyone who invested with Mr. Duffy during his tenure at Raymond James or Merrill Lynch in Louisville, KY.
Your Options – What to Do if You Suffered Losses
If you believe your financial advisor did not recommend investments consistent with your goals or if you notice unusual account activity, you may be eligible to recover your losses through FINRA arbitration or other legal routes. The process does not require proof of intentional misconduct; often, showing lack of suitability or breach of fiduciary duty is sufficient.
Every case is unique. Document your account statements, emails, and any communications and reach out for personalized guidance.
Haselkorn & Thibaut: National Investors’ Law Firm on Your Side
With over 50 years of dedicated experience in securities law and a 98% success rate, Haselkorn & Thibaut is currently investigating Kevin F. Duffy and related claims for investors nationwide. Our team operates on a contingency basis—if there’s no recovery, there’s no fee.
- Get free, confidential consultations
- No out-of-pocket costs—we are only paid if you recover losses
- National reach, local experience—especially for Louisville, KY investors
Take Action Now
If you lost money working with Kevin F. Duffy at Raymond James, Merrill Lynch, or any prior firm, call Haselkorn & Thibaut at 1-888-994-8066 for a FREE case review. There’s no obligation, and you get answers with complete transparency.
Your financial security is too important to leave to chance. Reach out to Haselkorn & Thibaut today and get clarity about your next steps.
