Last Updated: February 2025 (Prescott, AZ)
The securities fraud attorneys at Patil Law P.C. are actively investigating financial advisor Kenneth S. Hamada (CRD# 2661699) following concerning disclosures in his regulatory record. Investors who purchased illiquid investments through Mr. Hamada should immediately review their portfolios for potential recovery claims.
Key Information About Kenneth Hamada’s Background
- Full Name: Kenneth S. Hamada
- CRD Number: 2661699
- Current Location: Prescott, Arizona
- Current Firms: Avantax Advisory Services & Avantax Investment Services (Since October 2022)
- Previous Employers: Woodbury Financial Services (2022), Independent Financial Group (2014-2022), LPL Financial (2002-2014)
- Years in Industry: 25+ years (since 1998)
- Disclosure Events: 3 reportable events (1 criminal matter, 2 customer disputes)
- Current Status: Active with restricted approval in Texas
- State Registrations: Licensed in 19 states including Arizona, California, Colorado, Texas, and others
Recent Customer Complaint Regarding Illiquid Investments
According to FINRA BrokerCheck records, Hamada was recently named in a serious customer complaint filed in January 2025 alleging:
- Recommended unsuitable investments due to their illiquidity
- Investments specifically involved REITs and interval funds
- Alleged damages of approximately $96,000
- While the firm denied the complaint on February 6, 2025, this raises significant concerns about suitability standards
This recent complaint is particularly troubling as it involves complex, illiquid alternative investments that are often high-commission products with substantial risks for retail investors.
Criminal History Disclosure Raises Additional Concerns
Hamada’s BrokerCheck record reveals a 2003 criminal matter in Fresno County, California involving:
- Felony charges for assault with a deadly weapon
- Felony charges for assault by means likely to produce great bodily injury
- While these charges were ultimately dismissed in August 2003, the severity of these allegations warrants heightened scrutiny
Multiple Business Activities Create Potential Conflicts of Interest
Mr. Hamada discloses numerous outside business activities that may create conflicts with his securities recommendations:
- Hamada Wealth Management Group, LLC – DBA for his investment practice, fixed life insurance and financial planning
- MC Tax Preparation, LLC – Tax preparation business where he serves as manager
- Spanish Tinkerbell Real Estate LLC – Commercial real estate holdings
- Multiple insurance sales businesses – Including fixed annuity services through Global Atlantic and Impact Partners
- Northern AZ Foundation for Catholic Education – Board member position
This combination of roles across investment advising, tax preparation, insurance sales, and real estate creates an environment where conflicts of interest could potentially influence investment recommendations.
Warning Signs for Investors
Investors who have worked with Kenneth Hamada should be particularly vigilant about:
- Recommendations of illiquid alternative investments, particularly REITs and interval funds
- His restricted approval status in Texas, which may indicate additional regulatory oversight
- The pattern of transitions between multiple brokerage firms in recent years
- Potential conflicts from his diverse business interests that could impact objectivity
- The suitability of complex products given your specific financial situation and liquidity needs
What Impacted Investors Should Do
If you’re a current or former client of Kenneth Hamada who invested in:
- REITs or interval funds
- Other illiquid alternative investments
- Any investments that have significantly underperformed or that you believe were misrepresented
You should take immediate action to protect your rights:
- Request complete account documentation – Obtain all investment recommendations, disclosures, and statements
- Evaluate suitability – Consider whether investments matched your stated goals and risk tolerance
- Document communications – Gather any emails, letters or notes from meetings with Mr. Hamada
- Consult with a securities attorney – Learn about potential recovery options
Free Consultation with Experienced Investment Fraud Attorneys
The securities attorneys at Patil Law P.C. have extensive experience recovering losses for investors in cases involving unsuitable investment recommendations, particularly involving illiquid alternative investments.
Contact attorney Chetan Patil online or call (800) 950-6553 for a free, confidential consultation. Our securities fraud attorneys work on a contingency fee basis, meaning we only get paid if we help you recover money.
Information sourced from publicly available FINRA BrokerCheck records as of February 2025.
