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Investor Seeks Over $1 Million in Damages in Dispute with Hector Crespo

Jan 27, 2023 General

Hector Crespo (CRD #: 3015246), a broker registered with Aegis Capital Corporation, is involved in a pending investor dispute, according to his BrokerCheck record, accessed on January 19, 2023. This is the eighth investor dispute on his record. 

Investor Dispute

On November 30, 2022, an investor alleged that Hector Crespo facilitated unsuitable investments made from 2017 to May 2022. The client seeks $1.189 million in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile, which describes their age, tax status, financial goals, and other information.

Securities may be unsuitable because they are high-risk, leading to losses for the investor, or lack liquidity. A series of securities transactions may be quantitatively unsuitable, meaning that the broker executed an excessive number of trades, which can rack up trading fees and commissions that cut into clients’ returns

Investment strategies must also meet the requirements of suitability. Overconcentration is a potentially unsuitable investment strategy because it can increase the risk for an investor beyond what is appropriate for their financial goals.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds by pursuing FINRA arbitration.

Background Information

Hector Crespo 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 24 – General Securities Principal Examination

Hector Crespo is a registered broker in 29 states and Puerto Rico. He is also a registered investment adviser in 11 states.

He has also worked for the following firms:

  • Newbridge Financial Services Group (CRD#:130814)
  • Newbridge Securities (CRD#:104065)
  • Paulson Investment Company (CRD#:5670)
  • Schneider Securities (CRD#:16434)

Kurta Law Can Help

If you worked with Hector Crespo and you have concerns about your investments, please contact us today at 877-600-0098 or 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. Hector Crespo