Philip Alan Krupps (CRD #4064057) Has a Customer Dispute Disclosure on FINRA BrokerCheck

Philip Alan Krupps (CRD #4064057) is a broker with a customer dispute on FINRA BrokerCheck. We reviewed his BrokerCheck report on March 11, 2026. It reflects one customer dispute. If you invested with Philip Krupps and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Philip Krupps’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On January 27, 2026, a customer alleged Philip Krupps failed to disclose the fees and costs associated with an annuity purchase. The report lists allegation activity dates of June 18, 2025 to January 27, 2025. The customer sought $40,000 in damages. Philip Krupps’s FINRA BrokerCheck report lists the product as a variable annuity, and the complaint was denied on February 23, 2026.

Rule Summary #1: FINRA Rule 2330 (Deferred Variable Annuities)

FINRA Rule 2330 sets sales-practice standards for recommendations involving deferred variable annuities. It requires reasonable efforts to gather customer information and to explain material features such as fees, costs, surrender charges, and market risk.

Rule Summary #2: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for each recommendation. A broker should match the recommendation to the customer’s profile, including objectives, liquidity needs, and risk tolerance.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s interests.

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor understanding at the point of sale.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Philip Krupps:

Is currently registered with Raymond James Financial Services Advisors, Inc. and Raymond James Financial Services, Inc.

Has passed the Securities Industry Essentials (SIE) exam. Philip Krupps has also passed Series 7, Series 24, Series 9, Series 65, and Series 63.

Was previously registered with firms that include Primevest Financial Services, Inc. and Raymond James Financial Services.

Kurta Law Can Help

If you have worked with Philip Krupps and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Unsuitable Investments

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.