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Randall Raymond involved in Investor Dispute

Randall Raymond (CRD #: 1041994), a broker registered with Sagepoint Financial, is involved in an investor dispute, according to his BrokerCheck record, accessed on March 10, 2022. 

Investor Allegations

On November 10, 2021, an investor filed a dispute against Randall Raymond, alleging a breach of fiduciary dutynegligence, and breach of contract with regard to the sale of GPB Automotive Portfolio. GPB Automotive has run into financial problems following GPB Capital’s Ponzi scheme allegations from the SEC.

The investor is seeking  $50,000一the case is still pending.

If you suffered investment losses as a result of your financial advisor breaching a fiduciary duty, you could recover your losses in FINRA arbitration. Understanding what constitutes a breach of fiduciary duty comes with many years of handling these kinds of cases. Kurta Law is a nationally recognized securities law firm with over 25 years of experience litigating securities fraud cases.

Unsuitability Dispute

According to the allegations filed on May 22, 2019, Randall Raymond misrepresented a private security purchased in May 2018. The client further claimed the investment was unsuitable. The investor was seeking  $50,000 but the firm denied the case.

Brokers who recommend a security or investment are subject to FINRA rules and regulations. 

  • FINRA Rule 2111 requires registered brokers to have a “reasonable basis” to believe that a recommended transaction or investment strategy suits their client’s needs.
  • FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. 
  • Randall Raymond’s alleged unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.

Background Information

Randall Raymond has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 22 – Direct Participation Programs Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

He is a registered broker in four states. 

Besides Sagepoint Financial, Randall Raymond has also worked with the following firms:

  • Spectrum Capital (CRD#:28303)
  • MML Investors Services (CRD#:10409)
  • Massachusetts Mutual Life Insurance Company (CRD#:2682)

Kurta Law Can Help

If you worked with Randall Raymond and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or 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 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.