Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on April 24, 2017 indicate that Texas-based Wells Fargo Clearing Services broker/adviser Richard Lucker has been named in a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Lucker (CRD# 2285760).
Richard Lucker has spent 24 years in the securities industry and has been registered with Wells Fargo Clearing Services in El Paso, Texas since 2014. Previous registrations include Morgan Stanley in Tucson, Texas; Morgan Stanley & Company in Lake Oswego, Oregon; Merrill Lynch in Bellevue, Washington; Charles Schwab & Company in San Francisco, California; Buttonwood Securities, which has been expelled by FINRA, in New York, New York; and Portfolio Asset Management/USA Financial Group in El Paso, Texas. He is a registered broker and investment adviser in four US states: Arizona, Arkansas, New Mexico and Texas.
According to his BrokerCheck report, Richard Lucker has received one pending customer complaint.
In March 2017 a customer alleged Richard Lucker, while employed at Morgan Stanley Smith Barney, “failed to supervise with respect to FA’s management of her account” from 2011 to 2013. The customer is seeking $14,447,501 in damages in the pending complaint.
FINRA Rule 3110(a)(2) requires broker-dealer firms to assign “an appropriately registered principal(s)” to perform supervisory duties for every type of business the firm conducts. Principals are required to ensure the compliance of individual representatives as well as the firm as a whole, with respect to matters such as representatives’ character and qualifications, representatives’ outside employment activities, and the firm’s compliance with regulations. Principals who fail in their supervisory duties may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Richard Lucker, 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.