Key Takeaways
- • KlaymanToskes filed a FINRA arbitration claim (Case No. 26-02440) against Kingswood Capital Partners, LLC seeking up to $1 million on behalf of a couple who allegedly suffered losses in alternative investments and variable annuities recommended by advisor Dean Antonopoulos.
- • The claim alleges Kingswood and Antonopoulos concentrated 99% of the clients' managed assets in private and non-traded investments and Jackson National variable annuities, leaving them with almost no liquidity.
- • Cited troubled holdings include Barrow Shaver's BSR Lone Star Drilling Fund I (bankruptcy), Tasty Brands (suspended distributions and substantial write-down), and CMCT (preferred shares converted to common stock that declined after multiple reverse splits).
- • The claim alleges inadequate due diligence, undisclosed material risks, and failure to reasonably supervise Antonopoulos; FINRA separately censured Kingswood and fined it $150,000 in December 2025 over supervision of alternative investment recommendations.
Summary
National securities law firm KlaymanToskes announced on October 27, 2026, through an EIN Presswire release, that it has filed a FINRA arbitration claim against Kingswood Capital Partners, LLC. The claim, FINRA Case No. 26-02440, seeks up to $1 million for a couple who allegedly lost money in alternative investments and variable annuities recommended by Kingswood financial advisor Dean Antonopoulos (CRD# 2249353).
According to the Statement of Claim as described by the firm, the investors were approaching retirement and wanted dependable income while preserving savings accumulated over decades. The claim alleges that Kingswood and Antonopoulos placed 99% of managed assets in private and non-traded investments and Jackson National variable annuities, leaving little liquidity. The alternative investments were allegedly presented as reliable income sources without stock-market risk.
The release cites several specific holdings. Barrow Shaver's BSR Lone Star Drilling Fund I later entered bankruptcy, Tasty Brands suspended distributions and was substantially written down, and Creative Media & Community Trust Corporation (CMCT) converted preferred shares into common stock that declined after multiple reverse stock splits. The claim further alleges the Jackson National annuities generated little growth because funds remained largely in money market subaccounts while the investors continued to bear contract costs.
The claim alleges Kingswood failed to conduct adequate due diligence, disclose material risks, and reasonably supervise Antonopoulos's recommendations, and that investors were not adequately warned about illiquidity, suspended distributions, redemption restrictions, or substantial losses. Lawrence L. Klayman, Managing Partner of KlaymanToskes, said brokerage firms must evaluate concentration, liquidity, fees, and whether investors can withstand failures or halted distributions.
The release notes that Antonopoulos's BrokerCheck report, as of October 20, 2026, showed no disclosure events. He has been registered with Kingswood since September 2022 and works from its Carmel, Indiana branch. The release also references a separate FINRA action in which Kingswood was censured and fined $150,000 in December 2025 over findings related to supervision of alternative investment recommendations. The allegations are unadjudicated claims by the claimants' counsel, and no response from Kingswood or Antonopoulos is included in the source material.
According to the Statement of Claim as described by the firm, the investors were approaching retirement and wanted dependable income while preserving savings accumulated over decades. The claim alleges that Kingswood and Antonopoulos placed 99% of managed assets in private and non-traded investments and Jackson National variable annuities, leaving little liquidity. The alternative investments were allegedly presented as reliable income sources without stock-market risk.
The release cites several specific holdings. Barrow Shaver's BSR Lone Star Drilling Fund I later entered bankruptcy, Tasty Brands suspended distributions and was substantially written down, and Creative Media & Community Trust Corporation (CMCT) converted preferred shares into common stock that declined after multiple reverse stock splits. The claim further alleges the Jackson National annuities generated little growth because funds remained largely in money market subaccounts while the investors continued to bear contract costs.
The claim alleges Kingswood failed to conduct adequate due diligence, disclose material risks, and reasonably supervise Antonopoulos's recommendations, and that investors were not adequately warned about illiquidity, suspended distributions, redemption restrictions, or substantial losses. Lawrence L. Klayman, Managing Partner of KlaymanToskes, said brokerage firms must evaluate concentration, liquidity, fees, and whether investors can withstand failures or halted distributions.
The release notes that Antonopoulos's BrokerCheck report, as of October 20, 2026, showed no disclosure events. He has been registered with Kingswood since September 2022 and works from its Carmel, Indiana branch. The release also references a separate FINRA action in which Kingswood was censured and fined $150,000 in December 2025 over findings related to supervision of alternative investment recommendations. The allegations are unadjudicated claims by the claimants' counsel, and no response from Kingswood or Antonopoulos is included in the source material.
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