Investment Losses with Former H. Beck, Inc. Financial Advisor Richard Poston?
Posted on Saturday, June 2nd, 2018 at 12:47 pm
Erez Law is currently investigating former H. Beck, Inc. financial advisor Richard Poston (CRD# 2623641) regarding investment losses. Poston was registered with H. Beck, Inc. in Plano, Texas from 2010 until 2015, when he was terminated regarding, “Failed to fully cooperate with an internal investigation.”
Poston has been the subject of five customer complaints between 2002 and 2017, three of which were denied, according to his CRD report:
July 2017. “Registered representative recommended unsuitably over-concentrated investments in high risk, illiquid non-traded REITs and BDCs.” The customer is seeking $500,000 in damages and the case is currently pending.
March 2016. “Claimant claims unsuitable concentrated and illiquid investments in non-traded REIT’s. Date of Activity – 10/5/2007-9/28/2015.” The customer sought $200,000 in damages and the case was settled for $185,000.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, H. Beck, Inc. may be liable for investment or other losses suffered by Poston’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.