Rick Holmes Embroiled in a $500,000 Investor Dispute

Rick Holmes (CRD #:2202727), a broker registered with Concourse Financial Group Securities, is involved in an investor dispute, according to his BrokerCheck record. 

In a dispute filed against Rick Holmes on October 4, 2021, an investor alleged breach of contract and misrepresentation regarding a MetLife DI policy purchased on April 1, 2002. The damage amount requested is $512,000 — the case is still pending.  

Misrepresentation is a common problem in the securities industry. It usually occurs when an investment broker makes false or misleading statements about a financial product in an effort to persuade their customer to invest.  

Did you know that any of the following can be considered misrepresentation or omission? 

• Inadequate due diligence concerning security offerings 
• Failure to disclose all material risks 
• Failure to disclose all transaction costs 
• Unrealistic presumptions for investment projections 
• Inaccurate investment performance calculation 

Misrepresentations and omissions concerning material facts in investment recommendations deprive investors of the information they need to assess risks associated with a particular investment. FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. This unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.  

Losses that can be attributed to a stockbroker’s material misrepresentations of facts may result in a viable securities arbitration claim for damages. 

Background Information 

Rick Holmes 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 

Rick Holmes is a registered broker in Alabama. 

Besides Concourse Financial Group, Securities Rick Holmes has also worked with New England Securities (CRD#:615) 

 Kurta Law Can Help 

If you have worked with Rick Holmes and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or 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 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.