Hector Rivera Racks Up 13th Investor Dispute

Hector Rivera (CRD #: 4826616), a broker registered with Oriental Financial Services, has racked up 13 investor disputes. This is according to his BrokerCheck record, accessed on March 2, 2022.

On November 11, 2021, an investor alleged losses due to investments in closed-end funds. Closed-end funds can come with high fees that undercut any gains for the investor. The investor is seeking $52,083.81; the dispute is pending.

Over-Concentration

Several of the investments alleged that Hector Rivera over-concentrated their portfolios. Over-concentration means investors placed too many of their investments in a single stock or sector. Sound investing strategies use diversification to avoid major losses from a single stock.

On October 19, 2018, an investor alleged that Hector Rivera over-concentrated their investments. They also alleged misrepresentation. The investor is seeking $190,520; the dispute is pending.

Puerto Rico Investments

Three disputes alleged that Hector Rivera over-concentrated investments specifically in Puerto Rico securities. Puerto Rico investments have resulted in major losses for investors in recent years—in 2017, Puerto Rico had $70 billion in public debt and declared itself bankrupt. The disputes date from 2017 to 2018.

These claims collectively settled for approximately $275,000.

Background Information

Hector Rivera has passed the following exams:

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

He is a registered broker in Florida and Puerto Rico. He is also a registered investment adviser in Puerto Rico.

Hector Rivera has only registered with Oriental Financial Services (CRD #: 29753).

Kurta Law Can Help

If you have worked with Hector Rivera and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated on behalf of investors who have lost money following broker fraud or misconduct. Kurta Law is a nationally recognized law firm and exclusively represents investors on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Our attorneys will work tirelessly to restore your lost funds and get your financial future back on track.