Rikki JR Foster (CRD #6075051) Has Customer Dispute Disclosures on FINRA BrokerCheck

Rikki JR Foster (CRD #6075051) is a broker with customer disputes on FINRA BrokerCheck. We reviewed his BrokerCheck report on February 5, 2026. It reflects two customer disputes. If you invested with Rikki JR Foster and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Rikki Foster’s FINRA BrokerCheck Report reflects two customer dispute disclosures. Summaries are below:

On December 23, 2025, a customer alleged Rikki Foster recommended an unsuitable direct investment. The claim also alleged a lack of due diligence. It also alleged breach of fiduciary duty, negligence, and failure to supervise. Rikki Foster’s FINRA BrokerCheck lists the product as Direct Investment – DPP & LP Interests. The matter is pending in FINRA arbitration (Case No. 25-02465). The filing date is December 12, 2025. BrokerCheck lists a damages range of $100,000 to $500,000.

On September 17, 2025, a customer alleged Rikki Foster engaged in breach of fiduciary duty. The claim also alleged unsuitable recommendations, breach of written contract, and misrepresentation. It relates to activity in October 2022. Rikki Foster’s FINRA BrokerCheck lists the product as Direct Investment – DPP & LP Interests. The matter is pending in FINRA arbitration (Case No. 25-01952). The filing date is September 16, 2025. The customer sought $700,000 in damages.

Rule Summary #1: FINRA Rule 3110 (Supervision)

FINRA Rule 3110 requires firms to maintain a supervisory system designed to achieve compliance with securities laws and FINRA rules. When a dispute includes failure-to-supervise allegations, investors may question the firm’s oversight.

Rule Summary #2: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for each recommendation. Suitability disputes often focus on whether an investment fit the customer’s objectives, risk tolerance, and liquidity needs.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.
2. Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.
3. Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.
4. Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on His FINRA BrokerCheck report, Rikki Foster:

Is currently registered with Concorde Investment Services, LLC and Concorde Asset Management, LLC.

Has passed the Securities Industry Essentials (SIE) exam. Rikki Foster has passed Series 7 and Series 66.

Was previously registered with firms that include Bangerter Financial Services, Inc., Berthel, Fisher & Company Financial Services, Inc., and Hornor, Townsend & Kent, Inc.

Kurta Law Can Help

If you have worked with Rikki Foster and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unsuitable Investments | Failure to Supervise

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.