DID DOUGLAS FRANK REILLY CAUSE YOU INVESTMENT LOSSES?
About Douglas Reilly of Creative Planning?
Douglas Reilly (CRD #1189356) , located in South Mill, California,has extensive experience in the financial services industry, with roles spanning multiple decades. His career includes serving as Chief Operating Officer at Reilly Financial Advisors and working as an Investment Adviser Representative with Creative Planning, LLC. Mr. Reilly has passed several securities exams, including Series 7 and Series 65, and has experience with principal and supervisory responsibilities.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Douglas Reilly Customer Complaints and Reviews
Mr. Reilly has one regulatory disclosure on record:
- Regulatory Event March 14, 1988
- Regulator: National Association of Securities Dealers, Inc. (NASD)
- Allegation: Reilly Securities, Inc., under the management of Douglas Reilly and another individual, failed to maintain sufficient net capital as required under SEC Rule 15c3-1.
- Outcome: A Letter of Acceptance, Waiver, and Consent (AWC) was issued. The firm and its managers, including Mr. Reilly, were jointly censured and fined $2,500. The fine was paid on June 16, 1988.
Allegations Against Douglas Reilly
The regulatory disclosure involved Failure to Maintain Net Capital:
NASD alleged that Reilly Securities, Inc. operated a general securities business while failing to maintain sufficient net capital, as per SEC regulations.
The matter was resolved via an AWC, with the firm and its leadership agreeing to censure and a monetary fine of $2,500.
Douglas Reilly Employment History
Employment History:
- Creative Planning, LLC (2022 – Present): Investment Adviser Representative
- Reilly Financial Advisors (1999 – 2022): Chief Operating Officer
- Linsco/Private Ledger Corp. (1990 – 1999): Registered Representative
- Reilly Securities, Inc. (1983 – 1989): Registered Representative and Principal
Exams Passed:
Series 7 (General Securities Representative) 1983; Series 65 (Uniform Investment Adviser Law) 1999; Series 63 (Uniform Securities Agent State Law) – 1990; Series 24 (General Securities Principal) 1985; Series 4 (Registered Options Principal) 1988
Investment Advisors Owe Clients The Highest Level Of Care
Investment advisors have a fiduciary responsibility to act in their clients’ best interests. This includes providing transparent and accurate disclosures about investment strategies, associated risks, and any potential conflicts of interest. Advisors must exercise a duty of care, ensuring recommendations are suitable and aligned with the client’s financial goals and risk tolerance. Fiduciary duties are vital in fostering trust and promoting informed decision-making, serving as the cornerstone of ethical investment advisory practices.
Option Trading Can Be Extremely Risky
Options trading can carry significant risks due to the complexity and potential for high leverage involved. Risky strategies, such as naked options, expose clients to unlimited potential losses. For example, selling a naked call could result in substantial losses if the underlying stock price surges unexpectedly. Advisors must ensure clients are fully educated about these risks and assess their financial goals and risk tolerance before engaging in such strategies. Transparency and risk management are critical when incorporating options into an investment portfolio.
Douglas Reilly Red Flags & Your Rights As An Investor
Of course, Douglas Reilly 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 Douglas Reilly 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 Douglas Reilly
If you have questions about about Creative Planning and/or Douglas Reilly 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.
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