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Read MoreCheri Knight: $500K Complaint Against Strategic Financial Alliance
Foothill Ranch, California financial advisor Cheri Knight (CRD# 1854248) recently received an investor complaint alleging that unsuitable investments resulted in six-figure losses. Financial Industry Regulatory Authority records show that she is a broker and an investment advisor registered with The Strategic Financial Alliance, doing business as Knight Asset Management.
Ms. Knight’s BrokerCheck report discloses three investor complaints. The most recent, filed in December 2023, alleges that as a representative of The Strategic Financial Alliance, she recommended unsuitable investments and failed to disclose the products’ risks, features, and costs. The pending complaint alleges damages of $500,000. A comment included with the complaint’s disclosure states, “The claim is directed at the firm, the representative is not a named defendant.”
A second investor complaint, filed in 2020, alleged that she recommended unsuitable variable annuities and other investments that resulted in “a significant lack of growth.” In 2022, the complaint reached a settlement of $165,000. “The arbitration was directed at the firm, not the representative,” states a comment included with the complaint’s disclosure. “Cheryl Knight was not cited in the original claim nor the subsequent arbitration. The claim had no substance and was settled to avoid the cost to litigate.”
A third investor complaint, filed in 2006, alleged that she recommended unsuitable variable annuity transactions. The complaint alleged unspecified damages and was denied by the firm.
Knight Asset Management’s website includes a profile of Ms. Knight that describes her as the firm’s Principal. “Cheri Knight has been empowering clients’ vision, values, and legacy for more than 25 years,” it states. “Cheri provides individuals and business clients with sound financial planning and risk management, complimented by access to traditional and alternative investment strategies. Experience, integrity, transparency, and care are central to the client communication process.”
According to the Financial Industry Regulatory Authority, Cheri Knight holds 25 years of securities industry experience. Based in Foothill Ranch, California, she has been a broker and an investment advisor with The Strategic Financial Alliance since 2003, doing business as Knight Asset Management. She was previously registered with IFG Network Securities from 1998 until 2003. Her credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. She holds 23 state licenses. (Information current as of January 14, 2024.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.