Public records published by the Financial Industry Regulatory Authority (FINRA) on September 28, 2016 indicate that Florida-based PFS Investments broker Richard Blackwood has been the subject of a customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from customers who have complaints regarding Mr. Blackwood (CRD# 4269512).
Richard Blackwood has spent thirteen years in the securities industry and has been registered with PFS Investments in Melbourne, Florida since 2012. Previous registrations include Investors Capital in Melbourne Beach, Florida; Citigroup Global Markets in New York, New York; American Express Financial Advisors in Minneapolis, Minnesota; and IDS Life Insurance Company in Minneapolis, Minnesota. He is a registered broker in Florida.
According to his BrokerCheck report, Richard Blackwood has received one customer complaint.
In 2013 a customer alleged Richard Blackwood, while employed at Investors Capital, recommended unsuitable investments in 2007 and 2008. The complaint settled in 2014 for $150,000.
According to FINRA rules and federal securities law, investment professionals like Richard Blackwood must abide by a standard called suitability, meaning they must recommend only investments that are suitable for their clients. Brokers must weigh such factors as the customer’s investment goals, income, age, net worth, risk tolerance, and others. Brokers may not misrepresent or omit material facts pertaining to an investment, as misrepresentations or omissions might cause a customer to invest unsuitably. Brokers who recommend unsuitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have complaints regarding Richard Blackwood, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.