Richard Haupt is Facing a Suitability Dispute

Richard Haupt (CRD #: 4212929), a broker registered with TIAA-CREF Individual & Institutional Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on June 11, 2024. Details concerning this dispute are provided below. 

Investor Allegations 

On May 2, 2024, Richard Haupt allegedly recommended an unsuitable investment. 

Unsuitable Investments

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 2111 also violate this rule. 

Background Information 

Richard Haupt has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination
• Series 7 General Securities Representative Examination  
• Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in 48 states and is a registered investment adviser in D.C. and Puerto Rico. 

During his 21 years of experience, Richard Haupt has registered with six firms: 

• TIAA-CREF Individual & Institutional Services (CRD #: 20472) 
• Allstate Financial Services (CRD #: 18272) 
• LPL Financial (CRD #: 6413) 
• Nationwide Securities (CRD #: 11173) 
• 1717 Capital Management Company (CRD #: 4082) 
• Mony Securities Corporation (CRD #: 4386) 

Kurta Law Can Help 

If you have worked with Richard Haupt 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.