Our firm is investigating The Oak Ridge Financial Services Group, Inc. broker Todd Hanton Kennedy (CRD# 1002060) of Golden Valley, Minnesota for potential investment-related misconduct.
Todd Hanton Kennedy’s Career History
BrokerCheck shows Kennedy’s registration history beginning in 1981. Over the course of his securities industry career, he has been registered with IRI Securities Corporation (1981-1983), Alstead, Strangis and Dempsey Incorporated (1981-1982), Dean Witter Reynolds Inc. (1982-1985), Marquette Financial Services, Inc. (1986-1992), Piper Jaffray Inc. (1992-1994), Elan Investment Services, Inc. (1994-1997), R.J. Steichen & Company (1997-2000), Wells Fargo Brokerage Services, L.L.C. (2000 and 2001-2003), Wells Fargo Investments, LLC (2000-2003), Marshall Financial, Inc. (2003-2005), PrimeVest Financial Services, Inc. (2005-2006), The Oak Ridge Financial Services Group, Inc. (2009-2011 and again since September 2024), and Herbert J. Sims & Co., Inc. (2011-2024).
Misconduct
Todd Hanton Kennedy Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck reflects one disclosed customer dispute for Kennedy, and it is listed as pending. According to the disclosure, the matter was reported by the firm and arose from activity that allegedly occurred while Kennedy was associated with Herbert J. Sims & Co., Inc. The allegations concern unsuitable investments involving municipal debt, listed equities including common and preferred stock, and private placements. The FINRA arbitration was filed on January 6, 2026, under Docket No. 26-00033, and the date notice or process was served is listed as February 9, 2026.
Pending FINRA Arbitration Details
BrokerCheck states that alleged damages were shown as $0.00 because no specific damages claim had been stated at the time Herbert J. Sims received the arbitration notice. The disclosure also states that the matter evolved into arbitration and that the arbitration remains pending. The firm statement says the arbitration was brought by a retail customer alleging that a former HJS broker recommended unsuitable investments in the account.
Disclosure Summary
- Action: Customer dispute reported by firm and evolved into FINRA arbitration
Disposition/Status: Arbitration pending - Forum: FINRA
Disposition/Status: Docket No. 26-00033 - Filing Date: January 6, 2026
Disposition/Status: Pending - Date Notice/Process Served: February 9, 2026
Disposition/Status: Pending - Allegations: Unsuitable investments involving municipal debt, listed common/preferred stock, and private placements
Disposition/Status: Allegations not yet adjudicated - Alleged Damages: $0.00 listed, with explanation that no specified claim amount had been made when the arbitration notice was received
Disposition/Status: No settlement amount or individual contribution reported
Based on the presently disclosed public record, the issues shown on Kennedy’s BrokerCheck report center on a single pending FINRA arbitration alleging unsuitable investment recommendations. Because that matter is still pending, the allegations have not been proven or resolved. To obtain a copy of Todd Hanton Kennedy’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2090 is the Know Your Customer rule. It requires brokers to use reasonable diligence to understand the essential facts concerning a customer, including information relevant to servicing the account and making recommendations consistent with that customer’s situation. In the context of the pending Kennedy arbitration, that rule matters because allegations of unsuitable investments often turn on whether the broker adequately understood the investor’s objectives, liquidity needs, risk tolerance, and financial circumstances before recommending municipal debt, listed stock positions, or private placements.
FINRA Rule 2111 is FINRA’s suitability rule. It requires a broker to have a reasonable basis to believe that a recommended transaction or strategy is suitable for the customer based on the customer’s investment profile. That rule is directly relevant here because the only disclosed arbitration specifically alleges unsuitable investments. If an investor was placed into securities or strategies that did not match the investor’s age, financial needs, risk tolerance, tax status, liquidity needs, or investment objectives, Rule 2111 is often central to the claim.
FINRA Rule 2010 requires brokers to observe high standards of commercial honor and just and equitable principles of trade. Although broader than the suitability rule, it is frequently cited when alleged sales-practice misconduct reflects unfair dealing or conduct inconsistent with industry standards. In a case involving allegedly unsuitable recommendations, Rule 2010 can become relevant if the evidence shows the recommendations were made in a manner that fell below FINRA’s expected ethical and professional standards.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.