Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on January 26, 2017 indicate that Texas-based HD Investment Services broker/adviser Paul Nitz is the subject of a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Nitz (CRD# 2260178)
Paul Nitz has spent 24 years in the securities industry and has been registered with HD Vest Investment Services in Houston and the Woodlands, Texas since 1994. He was previously registered with Lutheran Brotherhood Services in Minneapolis, Minnesota (1992-1994). He is a registered broker and investment adviser in Texas.
According to his BrokerCheck report, Paul Nitz has received one pending customer dispute.
In July 2016 a customer alleged Paul Nitz, while employed at HD Vest Investment Services, “recommended and implemented an unsuitable investment strategy” and “misrepresented the position into which they invested by not informing them that they could lose principal.” The customer is seeking $528,000 in damages in the pending complaint.
Federal securities law and FINRA rules prohibit brokers like Paul Nitz from making untrue or false statements that can mislead their clients — an act referred to as “misrepresentation.” They are similarly prohibited from omitting material facts regarding an investmentA “material fact” is a piece of information that would be a significant consideration for a reasonable investor in making a decision about an investment. 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 Paul Nitz, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.