DID ALLAN PHILIP RECHT CAUSE YOU INVESTMENT LOSSES?
About Allan Recht of Creative Planning?
Allan Recht (CRD #855604) , located in Boca Raton, Florida, has extensive experience in the financial services industry, spanning several decades. He has worked at numerous firms, including Stanford Group Company, Quick & Reilly, and Barnett Investments. He is currently employed as a Business Development Officer at Douglas C. Lane & Associates. Over his career, he has passed multiple securities industry exams, such as the Series 7 and Series 65, reflecting his expertise in general securities and investment advisory.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Allan Recht Customer Complaints and Reviews
Mr. Recht has one regulatory disclosure on record:
- Regulatory Event Resolved April 29, 2011
- Regulatory Body: Florida Office of Financial Regulation
- Allegation: Conducted investment advisory business in Florida without proper registration.
- Outcome: Mr. Recht entered into a consent agreement, agreeing to a $10,000 fine and a cease-and-desist order. While he neither admitted nor denied the findings, the order allowed him to resume advisory work under proper registration.
This incident highlights the importance of ensuring compliance with registration requirements before conducting advisory services.
Allegations Against Allan Recht
The regulatory disclosure against Mr. Recht involved Unlawful Registration Allegation. The Florida Office of Financial Regulation found that Mr. Recht provided investment advisory services without appropriate state registration, a violation of Florida statutes.
The case was resolved through a consent agreement, with Mr. Recht agreeing to a $10,000 fine and ceasing unregistered activities. No fraudulent or deceptive conduct was alleged in this case.
Allan Recht Employment History
- Employment History:
- Douglas C. Lane & Associates (2021 – Present): Business Development Officer
- Creative Planning (2012 – 2021): Investment Advisor Representative
- Stanford Group Company (2006): Registered Representative
- Quick & Reilly (2001): Registered Representative
- Barnett Investments (1997 – 1998): Registered Representative
- Exams Passed:
- Series 1 (Registered Representative Examination) – 1978
- Series 7 (General Securities Representative) – 1980
- Series 5 (Interest Rate Options Examination) – 1982
- Series 63 (Uniform Securities Agent State Law) – 2006
- Series 65 (Uniform Investment Adviser Law) – 2011
Investment Advisors Owe Clients The Highest Level Of Care
Investment advisors are bound by fiduciary duties, requiring them to act in their clients’ best interests with loyalty and care. Advisors must provide clear disclosures about investment strategies, risks, and associated costs. They are obliged to recommend products and strategies that align with the client’s financial objectives, ensuring decisions are well-informed. These duties are crucial for maintaining trust and promoting ethical practices in the investment advisory relationship.
Option Trading Can Be Extremely Risky
Options trading involves significant risks due to the leverage and complexity inherent in such strategies. High-risk approaches like naked options can expose clients to unlimited losses. For instance, selling a naked call option could lead to substantial losses if the underlying asset’s price surges, requiring the seller to buy at a much higher market price. Advisors must thoroughly explain these risks, ensure clients understand potential outcomes, and assess their risk tolerance before implementing such strategies.
Allan Recht Red Flags & Your Rights As An Investor
Of course, Allan Recht did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Creative Planning on alert to review carefully the activity and performance of their accounts and question whether Allan Recht has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Creative Planning also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Creative Planning Due To Allan Recht
If you have questions about about Creative Planning and/or Allan Recht and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
Rate this Post
Loading...