Richard Hill Allegedly Recommended an Unsuitable Investments

Richard Hill (CRD #: 2468076), a broker registered with LPL Financial, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on July 30, 2024. Details concerning this dispute are provided below. 

Investor Allegations 

On May 2, 2024, an investor alleged that Richard Hill recommended an investment that was unsuitable for the customer’s investment objectives and risk tolerance. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

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

Background Information 

Richard Hill has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• 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 
• Series 24 General Securities Representative Examination 
• Series 26 Investment Company Products / Variable Contracts Principal Examination 

He is a registered broker in 21 states and is a registered investment adviser in North Carolina. 

During his 30 years of experience, Richard Hill has registered with two firms: LPL Financial (CRD #: 6413) and PFS Investments (CRD #: 10111). 

Kurta Law Can Help 

If you have worked with Richard Hill 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.