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Gregory Richards Embroiled in a Half-Million Dollar Dispute

Oct 31, 2022 Misrepresentation

Gregory Richards (CRD #: 1339012), a broker registered with Benchmark Investments, allegedly misrepresented an investment, according to his BrokerCheck record, accessed on October 16, 2022. Investors may have also engaged his services through DST Wealth Management. If you have questions about his conduct as a broker, keep reading.

Investor Dispute

On July 6, 2022, several investors filed a dispute alleging that Gregory Richards misrepresented an unsuitable, high-risk, and illiquid investment. The client seeks $500,000 in this pending dispute.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other unethical means of influencing the purchase and sale of securities. This includes misrepresenting an investment’s potential risks, returns, or limitations.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment suits their investor’s financial goals. Brokers must use the information in an investor’s profile, such as their tax status, age, and risk tolerance when making recommendations.

Investors who believe they have lost money due to unsuitable investment recommendations may be able to recoup their losses through FINRA arbitration.

Background Information

Gregory Richards has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Gregory Richards is a registered broker in 20 states and a registered investment adviser in Arizona and California.

He has also worked for the following firms:

  • Centaurus Financial (CRD#:30833)
  • Questar Capital Corporation (CRD#:43100)
  • Questar Asset Management (CRD#:133358)
  • USAllianz Securities (CRD#:40875)
  • First American National Securities (CRD#:10111)

Kurta Law Can Help

If you worked with Gregory Richards and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.