Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on November 16, 2016 indicate that New York-based Key Investment Services broker Robert Hope has received a pending customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Hope (CRD# 1171370).
Robert Hope has spent 31 years in the securities industry and has been registered with Key Investment Services in Albany, New York since 2006. Previous registrations include McDonald Investments in Colonie, New York; Key Investments in Cleveland, Ohio; Mercer Allied Corporation in Albany, New York; Painewebber in Weehawken, New Jersey; Merrill Lynch; and Baird Patrick & Company. He is a registered broker with 21 US states and territories: Arizona, California, Colorado, Connecticut, the District of Columbia, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Vermont, and Virginia.
According to his BrokerCheck report, Robert Hope has received one pending customer complaint.
In October 2016 a customer alleged Robert Hope, while employed at Key Investment Services, recommended unsuitable investments and failed to diversify investments. The customer is seeking approximately $50,000 in damages in the pending complaint.
Over-concentration (or “failure to diversify”) refers to a broker’s failure to diversify a customer’s portfolio among a variety of assets. Perhaps a broker believes one investment or asset class will outperform others, and concentrates the investment in that asset or class. In other instances, a broker mat invest primarily related products, such as municipal bonds in the same region. Given that similar classes often perform similarly, if one performs poorly, the others might as well. Brokers who fail to diversify their customers’ investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Robert Hope, 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 a contingency basis: Fitapelli Kurta only gets paid if and when you recover money. By law you may have a limited time to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.