Robert Dechick Subject of a $499,000 Investor Dispute
Robert Dechick (CRD #: 4152582), a broker registered with D.H. Hill Securities, allegedly violated anti-fraud regulations, according to his BrokerCheck record, accessed on September 24, 2022. Investors may have also engaged his services through D.H. Hill Advisors. Read on to learn more about Robert Dechick’s conduct as a broker.
On July 10, 2023, Robert Dechick allegedly recommended unsuitable investments and over-concentrated their portfolio in illiquid investments. The alleged activity took place from 2011 to 2023. The investor is seeking $499,000.
Two previous disputes have collectively settled for $27,000.
Another dispute was denied, but investors should know that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.
FINRA Rule 2111 – Unsuitable Investments
FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. This rule also prohibits overconcentration, as placing too much of a portfolio in a single sector exposes the investor to unnecessary risk.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
Regulatory Action by the State of Florida
On January 11, 2016, the Florida Office of Financial Regulation filed a cease-and-desist order against Robert Dechick over the alleged omission of certain disclosures from consolidated account statements concerning clients’ investments in real estate investment trusts (REITs). Robert Dechick entered into a stipulation with the Office of Financial Regulation, which involved a $5,000 fine.
FINRA Rule 2020
FINRA Rule 2020 bans the use of manipulative, deceptive, and otherwise unethical methods to influence the purchase and sale of securities. This includes the omission of material facts related to investments.
What is a real estate investment trust?
A real estate investment trust (REIT) manages real estate properties and allows investors to generate returns from these properties without needing to own or maintain these properties themselves. However, the lack of liquidity and risks associated with REITs make them unsuitable for many investors.
Background Information
Robert Dechick has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
Robert Dechick is a registered broker in California, Florida, Georgia, North Carolina, and Tennessee. He is also a registered investment adviser in Florida.
He has also worked for Broker Dealer Financial Services Corporation (CRD#:8073) and Southern Farm Bureau Fund Distributor (CRD#:10194).
Kurta Law Can Help
If you worked with Robert Dechick 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.