Raymond Hart Involved in an Annuity Dispute

Raymond Hart (CRD #: 6333498) is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on April 22, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On March 25, 2024, an investor alleged that Raymond Hart sold them an annuity without an appropriate disclosure that he had received extra commissions on top of a standard commission payout for selling a high volume of one particular annuity family. The investor, a senior citizen, indicated that he had used high-pressure sales practices and did not inform him of the investment’s downsides. 

The investor further alleged Raymond Hart violated Regulation Best Interest. 

What is Regulation Best Interest? 

Regulation Best Interest expands on the requirements of FINRA Rule 2111, which defines suitable investment recommendations. In addition to limiting their recommendations to investments that suit their investors’ needs, brokerage firms must also uphold a Duty of Care, the Conflict of Interest Obligation, and the Disclosure Obligation. These obligations and duties require brokerage firms to disclose conflicts of interest.

Background Information 

Raymond Hart has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 7TO General Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination

During his six years of experience, he has registered with two firms: USAA Investment Services Company (CRD #: 5475) and USAA Financial Advisors (CRD #: 129035). 

Kurta Law Can Help 

If you have worked with Raymond Hart and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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.