Herbert White is Facing Allegations of Misrepresentation

Herbert White (CRD #: 3125223), a broker registered with Osaic Wealth, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on March 20, 2024. Investors should know that this is the third investor dispute on his record in five years. 

Investor Disputes

On December 20, 2023, attorneys representing investors alleged that Herbert White recommended certain investments that were not in keeping with the client’s needs and objectives. They further alleged that he did not adequately describe the investments. The investor sought $50,000. 

According to allegations filed on August 10, 2020, an investor alleged that Herbert White misrepresented an unsuitable REIT purchase. The dispute was denied, but investors should know that firms can deny disputes without an external review. 

On March 18, 2019, an investor alleged that Herbert White misrepresented an annuity purchase. This dispute was also denied. 

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable.

Background Information

Herbert White has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 4 Registered Options Principal Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker in 40 states and D.C. He is also a registered investment advisor in Colorado and Texas. 

During his 25 years of experience, he has registered with five firms: 

• Osaic Wealth (CRD #: 23131) 
• Woodbury Financial Services (CRD #: 421) 
• Wachovia Securities Financial Network (CRD #: 11025) 
• JWGenesis Financial Group (CRD #: 38166)
• Chatfield Dean & Co. (CRD #: 14714) 

Kurta Law Can Help 

If you have worked with Herbert White and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.