Hector Evangelista Allegedly Recommended Unsuitable Investment Strategy
Hector Evangelista (CRD #: 4042150), a broker registered with Citigroup Global Markets, allegedly recommended an unsuitable investment strategy, according to his BrokerCheck record, accessed on October 9, 2022. If you want to learn more about his conduct as a broker, keep reading.
Investor Dispute
On August 1, 2022, an investor alleged that Hector Evangelista recommended an unsuitable investment strategy between June 25, 2021, and the date of filing. The client alleged that the structured notes involved in the strategy were out of the protective barrier without generating income.
The client further alleged that the money generated by this investment was intended for his retirement, that he will not recover his initial capital, and that his losses have affected his standard of living.
The client seeks $439,391 in this pending dispute.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the investor’s profile, which contains information about their age, tax status, and overall financial situation.
Investors who believe their losses were caused by unsuitable investment recommendations may be able to recover their funds by seeking out FINRA arbitration.
Background Information
Hector Evangelista 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
Hector Evangelista is a registered broker in 16 states and a registered investment adviser in Florida.
He has also worked for Wells Fargo Advisors (CRD#:19616) and First Union Brokerage Services (CRD#:8112).
Kurta Law Can Help
If you worked with Hector Evangelista 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.