Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on November 29, 2016 indicate that Maryland-based Cambridge Investment Research broker/adviser Richard Mercado has been the subject of a customer dispute. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Mercado (CRD# 2302301).
Richard Mercado has spent 23 years in the securities industry and has been registered with Cambridge Investment Research in Luthersville, Maryland since 2012. Previous registrations include FSC Securities Corporation in Luthersville, Maryland; Raymond James Financial Services in Rockville, Maryland; Morgan Stanley DW in Purchase, New York; AG Edwards & Sons in St. Louis, Missouri; RAF Financial in Denver, Colorado; Josephthal Lyon & Company in New York, New York; and Tamaron Investments. He is a registered broker and investment adviser with seventeen US states and territories: Alabama, California, Colorado, Delaware, the District of Columbia, Florida, Georgia, Maryland, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Texas, Virginia, Washington, and West Virginia.
According to his BrokerCheck report, Richard Mercado has received one customer complaint and one denied customer complaint.
In January 2016 a party of customers alleged Richard Mercado, while employed at Cambridge Investment Research, misrepresented material facts “that induced them to switch from variable annuities they held with one insurer to those of another.” The complaint settled for $90,000.
In 2012 a party of customers alleged Richard Mercado, while employed at FSC Securities Corporation, did not provide proper tax information concerning the liquidation of two annuities on which she was the beneficiary. The customer sought $32,000 in damages in the complaint, which was denied.
If you have complaints regarding Richard Mercado, 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.