Investor Alleges Hagin Richeson Sold Unsuitable Investment

Hagin Richeson (CRD #: 5380166), a broker registered with Corinthian Partners, allegedly sold an unsuitable investment to a client, according to his BrokerCheck record, accessed on June 1, 2023. Investors may have also worked with him through Corinthian Partners Asset Management. If you have questions about his alleged conduct as a broker, read on.

Investor Dispute

On March 10, 2023, an investor alleged that Hagin Richeson sold an unsuitable investment product and engaged in improper sales practices in or around 2018. The client seeks $100,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must consult the investor’s profile, which describes their age, tax status, and other information.

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their funds by seeking out FINRA arbitration.

Florida Regulatory Action

On December 16, 2022, the Florida Office of Financial Regulation alleged that Hagin Richeson engaged in the investment advisory business without proper state registration, in violation of Section 517.12(4) of the Florida Statutes.

He was ordered to cease and desist and fined $4,000.

Section 517.12(4) of the Florida Statutes

Section 517.12(4) of the Florida Statutes prohibits investment advisers from providing investment advice without being registered with the state.

Background Information

Hagin Richeson has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Hagin Richeson is a registered broker in ten states and a registered investment adviser in Florida.

He has also worked for Ameriprise Financial Services (CRD#:6363).

Kurta Law Can Help

If you worked with Hagin Richeson 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.