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Nikko Richardson Subject of an Investor Dispute Regarding a Managed Account

Nikko Richardson (CRD #: 6690568), a broker registered with Fidelity Brokerage Services, is the subject of a six-figure investor dispute, according to his BrokerCheck record, accessed on September 13, 2023. For more details regarding his alleged conduct, keep reading. 

On August 8, 2023, an investor alleged that Nikko Richardson made an unsuitable recommendation to invest in a managed account. The investor is seeking $100,000 in this pending dispute. Managed accounts often come with higher fees than self-directed brokerage accounts and may be unsuitable for many investors. 

FINRA Rule 2111 

FINRA Rule 2111 requires brokers to recommend investments that suit their investor’s needs. They must take several factors into consideration, including their investor’s age, risk tolerance, liquidity needs, and financial goals. Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

Background Information 

Nikko Richardson 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 17 states and is a registered investment adviser in Florida and Texas. 

Nikko Richardson has registered with the following firms: 

  • Fidelity Brokerage Services (CRD #: 7784) 
  • Fidelity Personal and Workplace Advisors (CRD #: 2888590) 
  • PNC Investments (CRD #: 129052) 
  • Morgan Stanley (CRD #: 149777) 
  • Edward Jones (CRD #: 250) 

Kurta Law Can Help

If you worked with Nikko Richardson 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 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.

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