Richard Lamore Allegedly Misrepresented Annuity Transactions

Richard Lamore (CRD #: 2588817), a broker registered with J.W. Cole Financial, allegedly made misrepresentations, according to his BrokerCheck record, accessed on May 26, 2023. Investors may have also worked with him through J.W. Cole Advisors. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On March 21, 2023, an investor alleged that Richard Lamore misrepresented a variable annuity exchange and the purchase of a fixed index annuity. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without allowing an outside review. Investors can still seek out FINRA arbitration after a denial and may be able to recover their lost funds.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deception, manipulation, and other fraudulent means of influencing investors’ decisions. Misrepresenting an investment’s potential risks, fees, or other relevant information violates this rule.

What are Variable Annuities?

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying security. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Background Information

Richard Lamore 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 6 – Investment Company Products/Variable Contracts Representative Examination
• Series 26 – Investment Company Products/Variable Contracts Principal Examination

Richard Lamore is a registered broker in 30 states and a registered investment adviser in Connecticut.

He has also worked for the following firms:

• Woodbury Financial Services (CRD#:421)
• Questar Capital Corporation (CRD#:43100)
• Ameritas Investment Corporation (CRD#:14869)
• CCF Investments (CRD#:136571)
• PFS Investments (CRD#:10111)

Kurta Law Can Help

If you worked with Richard Lamore and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.