WARNING!  Robert J. Kerrigan of Scottsdale, Arizona

Have you lost money with financial advisor Robert J. Kerrigan, Sr. from Scottsdale, Arizona?  We are investigating allegations made by the Securities Division of the Arizona Corporation Commission against Robert Kerrigan, who previously worked as a financial advisor with Personal Wealth Management Group in Scottsdale.  The Arizona Securities Division alleged that Robert Kerrigan solicited investors to invest in a company called USA Barcelona Realty Advisors LLC, a company in which Kerrigan was alleged to have been an executive.

The Arizona Securities Division alleged that beginning in 2013, Robert Kerrigan solicited investors at his securities broker-dealer, First Financial Equity Corp., to invest in promissory notes of USA Barcelona Realty Advisors.  It was purported to be a REIT (or real estate investment trust), offering 12% annual interest, with a maturity date of December 31, 2014.  Investors put in $720,000, but they have only received $90,521 back, with no return of principal (despite the December 2014 maturity).

The Arizona Securities Division alleged that Kerrigan and others misrepresented the risks of the USA Barcelona Realty Advisors promissory notes.  They omitted to inform investors that the president of USA Barcelona had another failed real estate venture, and that three other companies that he ran filed for bankruptcy.  It is believed that investors have lost their principal investments in USA Barcelona Realty Advisors.  The Arizona Securities Division seeks to fine Robert Kerrigan and revoke his securities license.

Robert J. Kerrigan, Sr. was a financial advisor and registered representative of First Financial Equity Corp. from October 2008 to August 2015.  He also was the president of Personal Wealth Management Group, located in Scottsdale, Arizona.  Kerrigan has been the subject of at least four customer complaints, a July 2014 tax lien, and a 2010 judgment against him for $76,000.

Brokerage firms like First Financial Equity Corp. have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms 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 that represents investors in FINRA arbitration proceedings in all 50 states, including numerous investors in the Phoenix area.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.

Click to view:  Kerrigan AZ Comp

Click to view:  Kerrigan FINRA AWC

Click to view:  Kerrigan BrokerCheck 9.28.15

HAVE YOU LOST MONEY WITH ROBERT KERRIGAN OR USA BARCELONA REALTY ADVISORS?

             CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION

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Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs.