Category Archives: Investor’s Capital Corp.

Richard L. Pittman-Cetera Advisors Broker-Discloses Settlement of Customer Suits-Memphis, TN

January 2020- Memphis, TN

The FINRA records of Richard Lynn Pittman, a stockbroker employed by  Cetera Advisors, disclose a pending customer dispute and 3 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 9/19, a customer of  Investors Capital Corp. filed FINRA case #19-02785 alleging that investments in limited partnerships and other direct investments, made in 2008 . were unsuitable and is seeking $150,000 in damages.   The case is still pending.

In 8/19, a customer of Investors Capital Corp. was paid $45,000  to  resolve allegations of unsuitability of investments made in 2008.

In 8/19, another customer of Investors Capital Corp. was paid $95,000 to resolve allegations of suitability of investments made in 2008.

In 6/18 a customer of  Investors Capital Corp.,  was paid $75,000 to resolve allegations that investments made in 2008 were unsuitable.

Richard Lynn Pittman  has been employed by Cetera Advisors since 10/16.   Prior to  that he was with Investors Capital Corp. from 8/2000 until 10/16.

If you have questions about an account  handled by Richard Lynn Pittman call for a no charge consultation to learn more about your legal options.

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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Richard Pittman-Cetera Advisors Broker-Discloses 3 Prior Customer Disputes & 1 Pending Customer Dispute-Memphis, TN

January 2020- Memphis, TN 

The FINRA records of Richard L. Pittman, a stockbroker employed by  Cetera Advisor disclose a pending customer dispute and  3 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 October 2018 a  customer of  Pittman’s prior employer ,Investors Capital Corp., was paid $45,000 in FINRA case #18-03516 to  resolve allegations that Pitman made unsuitable investment recommendations.

In August of 2018, a customer of Investors Capital Corp. was paid $95,000 in FINRA case #18-02571 to resolve allegations that Pittman made unsuitable investments.

In 10/2016, an Investors Capital Corp. customer was paid $75,000 in FINRA case #17-00699  to resolve allegations that Pittman made unsuitable investment recommendations in oil & gas and real estate securities .

In pending FINRA case #19-02785 an Investors Capital Corp. customer alleges suitability of investments made in 2008 and i seeking damages of $150,000.

Pittman  has been employed by Cetera Advisors since October of 2016.   From August of 2008 until October 2016 he was with Investors Capital Corp.

If you have questions about an account  handled by Richard Pittman at Investors Capital or Cetera call for a no charge consultation to learn more about your legal options.

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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Travis Hughes of Hughes Financial Group-Discloses Numerous Customer Suits-El Paso, TX

January 2019-El Paso, Texas

According to publicly available records   Travis Jerome Hughes , a  stockbroker who is currently registered with Cetera Advisors  disclose a currently pending customer dispute, 11 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 the currently pending matter a customer of Cetera Advisors alleges poor performance of an investment in a real estate trust (REIT) and is seeking damages of over $18,000. Five of the prior customer disputes were were resolved with cash settlements, including:

  • FINRA Case 17-0028 in which a customer of Investors Capital Corp. was paid $37,500 to resolve allegations that investments in real estate securities and corporate debt were unsuitable.
  • A case filed in El Paso County (2008-3396) in which a customer of AXA Advisors was paid $350,000 to resolve allegations that they were sold unsuitable investments and victims of fraud.
  • A customer of AXA Advisors was paid $289,000 in 2007 to resolve allegations that she was sold three variable life insurance policies that were unsuitable based upon her financial objectives.

Hughes has been with Cetera Advisors since 10/2016. His prior employment includes Investors Capital Corp. , AXA Advisors and The Equitable Life Assurance Society of the United States. Hughes discloses business affiliations with Liberty Tax and Hughes Financial Group.

If you have losses in an account in an account handled by Travis Hughes , contact us for a no charge consultation to learn how you may be able to recover damages  through FINRA arbitration.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Noel Vincent-Former Investors Capital Corp..Madison Ave. Securities Broker-Subject of Numerous Customer Suits-Houston, TX

January 2020-Houston, Texas

According to publicly available records Noel Ray Vincent, (CRD# 1370987) ,  a  stockbroker who is not currently registered , who formerly worked for Madison Avenue Securities and Investors Capital Corp. and who is managing director of Senior Partners Private Wealth Management  disclose a prior final regulatory matter, 6 pending customer disputes , 12 prior final customer disputes and a currently outstanding IRS lien.

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.

The currently pending arbitrations include:

  • FINRA Case 18-4130 filed in 12/2018: a customer of Investor’s Capital and Madison Ave Securities seeks damages of $100,000 alleging misrepresentation, fraudulent concealment and other claims related to the purchase of alternative investments.
  • FINRA case #18-3702- a customer(now deceased, action brought by estate)  of Investors Capital Corp. alleges fraudulent concealment, fraud and other causes of action related to the purchase of a real estate security and seeks damages of $100,000.
  • FINRA case #18-0701-a customer of Investors Capital Corp and Madison Avenue Securities alleges that the alternative investments, including REITs,  recommended were unsuitable and seeks damages of $295,000.
  • FINRA arbitration 17-0029 a customer of Investors Capital Corp. is seeking damages of $500,000 for misrepresentations, breach of fiduciary duty and other claims related to the purchase of alternative investments during the period 2005-2008.

In FINRA case #17-03104- a customer of Madison Avenue Securities alleged misrepresentation and unsuitable investments and was paid a settlement of $125,000.

In  FINRA arbitration 17-0818  a customer of Madison Avenue Securities sought damages of $75,000 , alleging that United Development III and UDF IV were sold to him without Vincent performing adequate due diligence and that it was negligently misrepresented. That case was settled in 1/2018 for $19,000.

In FINRA arbitration 15-0037,  a customer of one of Vincent’s prior employers,  Investors Capital Corp. , sought damages of $413,000  for unsuitable investments in oil & gas investments and real estate securities made between 2006 and 2009. That matter was settled for $125,000.

Vincent discloses an outstanding tax  lien in favor of the Internal Revenue Service in the amount of $170,000, filed in Harris County, Houston.

Vincent was employed by Madison Avenue Securities from 11/2009-4/2018. For a short period of time he was employed by Ele Wealth Advisors (6/2018-8/2018). He was employed by Investors Capital Corp. from 9/2001-11/2009. Vincent discloses a business affiliation with Senior Partners Tax & Accounting Service in Houston.

If you have suffered losses   in an account handled by Noel Ray Vincent, contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

James Franklin – Former Investors Capital Corp. Broker- Discloses Customer Dispute- Houston, TX

June 2017 – Houston, TX

According to publicly available records James A. Franklin  (CRD#4799613) ,  a  stockbroker who currently is employed by 1st Global Capital Corp.  discloses a pending customer dispute.

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 April of 2017,  a customer of Investors Capital Corp.  filed a customer dispute for damages of  $50,000  alleging that Franklin misrepresented the liquidity of REITs sold to him.

Franklin has been employed by 1st Global Capital since March of 2017.    He was with Cetera Capital Corporation  from October of 2016 to March 2017, and with Investors Capital Corporation beginning in September 2010. Franklin discloses a business affiliation with Molen Financial LLC.

If you have questions about an account handled by James A. Franklin , contact us to discuss your options.

INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016

Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link. 

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870