Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on September 28, 2016 indicate that Texas-based Keystone Capital Corporation broker/adviser Hugh Stout has been the subject of a customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Stout (CRD# 5658255).
Hugh Stout has spent seven years in the securities industry and has been registered with Keystone Capital Corporation in McGregor, Texas since 2013. He was previously registered with Next Financial Group in Waco, Texas (2009-2013). He is a registered broker and investment adviser in Texas.
According to his BrokerCheck report, Hugh Stout has received one customer complaint and was discharged from Next Financial Group.
In 2013 a customer alleged Hugh Stout, while employed at Next Financial Group, recommended an unsuitable portfolio that included equity-listed products, options, and exchange-traded funds. The complaint settled for $102,500.
In 2013 Hugh Stout was terminated from his position at Next Financial Group following allegations he made unsuitable investment recommendations.
In 2009 Hugh Stout paid $16,000 to settle a debt of $29,658 with “American Express-RMA-Optima.”
Exchange traded funds, or ETFs, are a popular way for investors to diversify their holdings. They contain a portfolio of shares that track market indices like the Dow Jones or the S&P 500; alternately, they may follow only a particular segment of the market. An ETF, for instance, might contain shares of energy or pharmaceutical companies. If one of those particular indexes is performing well, the corresponding exchange traded fund will mirror that trend. It will also parallel a downward trend, unfortunately, and significant losses may result for people who have invested in it. Investment professionals who recommend unsuitable ETFs may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Hugh Stout, you may be eligible to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only receive payment if and when you recover money. You might have a limited time to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.