Richard Behrendt Embroiled in a Six-Figure Dispute
Richard Behrendt (CRD #: 1050456), a broker registered with Morgan Stanley, is involved in an investor dispute, according to his BrokerCheck record, accessed on July 20, 2021.
On June 14, 2021, an investor alleged that Richard Behrendt recommended unsuitable, illiquid equity securities. “Illiquid” means that investors may not be able to sell their shares. FINRA requires that brokers recommend suitable investments that fit their investor’s financial goals and risk tolerance. They also must fit the investor’s time horizon. Brokers should not recommend illiquid investments if their investors might need to access those funds. In their complaint, the investor is seeking $115,123; the dispute is pending.
Richard Behrendt Background Information
Behrendt has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 31 Futures Managed Funds Examination
- Series 7 General Securities Representative Examination
- Series 8 General Securities Sales Supervisor Examination (Options Module & General Module)
He is a registered broker in 12 states and a registered investment adviser in Texas and Wisconsin.
Richard Behrendt has worked with the following firms:
- Morgan Stanley (CRD #: 149777)
- CitiGroup Global Markets (CRD #: 7059)
- Stifel, Nicolaus & Company (CRD #: 793)
- Wisconsin Discount Securities Corporation (CRD #: 7388)
Kurta Law Can Help
If you worked with Richard Behrendt and you have concerns about the suitability of your investments, contact Kurta Law today. Call 212-658-1502 or email email@example.com.