Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on November 21, 2018 indicate that Texas-based Hilltop Securities broker Richard Cagle has received a pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Cagle (CRD# 2122648).
Richard Cagle has spent 27 years in the securities industry and has been registered with Hilltop Securities in Corpus Christi, Texas since 1997. He was previously registered with Principal Financial Securities in Dallas, Texas (1991-1997). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 20, 1991; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; and Series 7 (General Securities Representative Examination), which he obtained on February 11, 1991. He is a registered broker with three US states: California, Hawaii and Texas.
According to his BrokerCheck report, he has received one pending customer complaint.
In October 2018 a customer alleged Richard Cagle, while employed at Hilltop Securities Independent Network, recommended unsuitable investments in listed equities and over-the-counter equities. The customer is seeking more than $384,200 in damages in the pending complaint.
For reference, FINRA rules and federal securities law stipulate that brokers and investment advisers like Richard Cagle must adhere to a standard known as suitability, which mandates that they recommend only investments considered suitable for their clients’ needs: they must weigh such factors as investment goals, experience, age, income, risk tolerance, net worth, and more. Brokers who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has complaints regarding Richard Cagle, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.