May 2018-Plano, Texas
According to FINRA records, Richard E. Poston, a broker who is not currently employed in the industry, and who last worked for H. Beck, Inc. in Plano, Texas , discloses a pending customer dispute , 4 prior customer disputes and a termination from employment.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In March 2016 a customer of H. Beck, Inc. filed FINRA Case# 16-0766 seeking $200,000 in damages and alleges that he was sold an unsuitable concentration of illiquid investments in non-traded real estate investment trusts (REITs) between 10/2007-9/2015. In July 2016 that case settled for $185,000.
In 7/2017 a customer of H. Beck filed FINRA Case 17-1789 alleging that Poston over concentrated their account with high risk, illiquid non publicly traded REITs and business development companies (BDC’s). The customer is seeking damages of $500,000.
Poston was employed by H. Beck, Inc. from 3/2010 until he was discharged in 12/2015 for failing to cooperate fully with an internal investigation. Prior to that he worked for a number of other brokerage firms in the Plano area, including GunnAllen Financial and LPL Financial.
Investors with losses in accounts handled by Richard E. Poston , may be able to recover damages through FINRA arbitration. FINRA arbitration is a method of dispute resolution that is typically much shorter in duration than court litigation. Call for a no charge consultation.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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