Public records published by the Financial Industry Regulatory Authority (FINRA) on November 16, 2016 indicate that Washington-based Cantella & Company broker/adviser Prent Houck was recently terminated from a former employer. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Houck (CRD# 4768554).
Prent Houck has spent twelve years in the securities industry and has been registered with Cantella & Company in Kennewick, Washington since November 2016. Previous registrations include Century Securities Associates in Kennewick, Washington (2009-2016); UBS Financial Services in Kennewick, Washington (2006-2009); and Piper Jaffray & Company in Kennewick, Washington (2004-2006). He is a registered broker and investment adviser with seven US states and territories: Arizona, California, Colorado, Idaho, Michigan, Nebraska and Washington.
According to his BrokerCheck report, Prent Houck has received one customer complaint and was recently discharged from Century Securities Associates.
In October 2016 Prent Houck was terminated from his position at Century Securities Associates following allegations he used discretion without a client authorization form on file.
In 2008 a customer alleged Prent Houck, while employed at Century Security Associates, assured her “she would have a no risk investment” and “guaranteed that they would never lose principal and that the investment (auction rate securities) would be safe.” The complaint settled for $150,000.
FINRA rules stipulate that investment representatives like Prent Houck are prohibited from “Purchasing or selling securities in a customer’s account without first contacting the customer and receiving the customer’s authorization to make the sale or purchase, unless the broker has received from the customer written discretionary authority to effect transactions in the account or the broker was given discretion as to price and time.” Brokers who exercise unauthorized discretion may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Prent Houck, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover money. 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.