Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on April 20, 2016 indicate that Vermont-based Merrill Lynch broker/adviser Richard Kowalski is the subject of a pending customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Kowalski (CRD# 1558602).
Richard Kowalski has spent 28 years in the securities industry and has been registered with Merrill Lynch in Burlington, Vermont since 1989. Previous registrations include Shearson Lehman Hutton in New York, New York (1988-1989) and EF Hutton & Company (1987-1988). He is a registered broker and investment adviser in 28 US states and territories.
According to his BrokerCheck report, Richard Kowalski is the subject of one pending customer complaint.
In 2013, a customer alleged that Richard Kowalski, while employed at Merrill Lynch, recommended unsuitable investments and misrepresented and omitted material facts. The customer is seeking $225,000 in damages in the pending complaint.
Federal securities law prohibits investment professionals like Richard Kowalski from making untrue or false statements that can mislead their clients — an act referred to as “misrepresentation.” This also includes omitting material facts regarding an investment or the effect that an investment could have on the client’s finances. A “material fact” is a piece of information that would be a significant consideration for a reasonable investor in making a decision about an investment. Some examples include the risk level of a stock, the potential return on an investment, or the fees involved with the transaction. Brokers and investment advisers who misrepresent material facts may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you have lost money investing with Richard Kowalski, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. Fitapelli Kurta takes every case on a contingency basis, which means Fitapelli Kurta only gets paid if and when you collect money. By law there may be a limited window to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.