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Richard Adams Permitted to Resign by Colonial River Wealth Management 

Richard Adams (CRD #: 1367656), a broker registered with LPL Financial, has an employment disclosure on his BrokerCheck record, accessed on August 3, 2023. Investors who have questions about his alleged conduct as a broker should keep reading. 

On July 6, 2023, Colonial River Wealth Management permitted Richard Adams to resign following allegations that the firm discovered he had distributed statements that he created himself to clients without firm approval. 

FINRA Rule 2210 

FINRA Rule 2210 states that a member of the brokerage firm must approve any retail communications. These communications with the public include advertising. 

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish supervisory systems to ensure their compliance with securities regulations. Firm policies should be designed with regulatory rules and regulations in mind. 

Background Information 

Richard Adams has passed the following exams: 

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

He is a registered broker in nine states and D.C. He is also a registered investment adviser in Virginia. 

Richard Adams has registered with the following firms: 

  • LPL Financial (CRD #: 6413) 
  • Colonial River Wealth Management (CRD #: 284839) 
  • Securities America Advisors (CRD #: 110518) 
  • Securities America (CRD #: 10205) 
  • Investors Security Company (CRD #: 2331)
  • PFG Distribution Company (CRD #: 4806) 
  • Mutual Service Corporation (CRD #: 4806) 
  • Wheat, First Securities (CRD #: 6124) 

Kurta Law Can Help

If you worked with Richard Adams and you have concerns about your investments, please contact us today at 877-600-0098 or 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 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.