William Frank Richardson Investigation
September 2022-Houston, TX
The FINRA records of William “Frank” Richardson, Jr. , a stock broker with Avantax Investment Services, disclose 6 prior customer disputes.
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 June of 2020, FINRA case #20-01807, filed by an Investacorp, Inc. customer – where Richardson was formerly employed, alleged unsuitable investments. The case settled in 5/2021 for $90,000.
In October of 2018, FINRA case #18-03731 was filed by an Investacorp, Inc. customer alleging that recommendations to invest in alternative investments (REITs, limited partnerships) were unsuitable. The case settled for $100,000 in 9/2019.
In July of 2009, a Next Financial Group, Inc. customer – Richardson’s former employer, alleged negligence in calculating the RMD which resulted in resetting of the annuity benefit. This case settled for $34,920.
Richardson, who has been with Avantax since 10/2020, was employed with Securities America in Houston from July 2020 until October of 2020. Before that time he was with Investacorp Advisory Services, from January 2012 until July of 2020. Prior to that he was with Geneos Wealth Managment, Inc. and Next Financial Group, Inc.
Richardson discloses a business affiliation with Houston Retirement Guy located on the Katy Freeway in Houston, TX.
If you have losses in an account handled by William Frank Richardson, call for a no charge consultation to discuss your options for recovery of damages.
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.
Florida-561 391 1900