DID RICHARD GEORGE HUBERT DEPALMA CAUSE YOU INVESTMENT LOSSES?
Richard DePalma Of Centaurus Financial, Inc. Has 3 Customer Complaints For Alleged Broker Misconduct
About Richard DePalma of Centaurus Financial, Inc.?
Richard DePalma (CRD #4517536) is a seasoned financial professional currently registered with Centaurus Financial, Inc., as a registered broker and financial advisor where he has been since October 31, 2007 and May 27, 2010, respectively. He is licensed in 8 U.S. states and territories and holds several key industry certifications, including passing 1 principal/supervisory exam, 3 general industry/product exams, and 2 multi-state securities law exams. DePalma has a broad history of working with various financial firms, including Transamerica Financial Advisors, Inc., and American General Securities Incorporated. His extensive experience in the industry is complemented by his leadership roles, including his position as CEO of DePalma Investment Group Corporation.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Richard DePalma Customer Complaints and Reviews
Richard DePalma has three customer disputes disclosed in his FINRA report:
- Customer Dispute (2024 – Settled): Customers alleged that DePalma misrepresented and recommended unsuitable, high-risk, speculative, and illiquid investments in March and May 2020. The dispute was settled for $50,000, with no individual contribution from DePalma. The case was filed with FINRA under case number 23-00740.
- Customer Dispute (2024 – Pending): Another customer alleged that DePalma recommended an unsuitable, high-risk, illiquid investment in April 2020 and breached his fiduciary duty. The dispute, alleging damages of $50,000, is currently pending and was filed with FINRA under case number 24-01315.
- Customer Dispute (2024 – Pending): A further dispute was filed by customers alleging that DePalma recommended and misrepresented an unsuitable, high-risk, speculative investment, with no specific dates provided. The alleged damages amount to $150,000. This case is also pending under FINRA case number 24-00289.
Allegations Against Richard DePalma
The allegations against Richard George Hubert DePalma include claims that he recommended and misrepresented unsuitable, high-risk, and speculative investments. These disputes are related to investment activities in 2020, with two cases currently pending and one settled. The nature of the allegations centers around the suitability of the investments relative to the customers’ risk tolerance and financial objectives, with DePalma accused of breaching his fiduciary duty in these instances. Despite these allegations, DePalma has consistently denied any wrongdoing and maintains that the investments were appropriate based on the clients’ goals and circumstances.
Richard DePalma Red Flags & Your Rights As An Investor
Of course, Richard DePalma 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 Richard DePalma at Centaurus Financial, Inc. on alert to review carefully the activity and performance of their accounts and question whether Richard DePalma has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Centaurus Financial, Inc . also raises questions about the brokerage firms’ 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 Centaurus Financial, Inc. Due To Richard DePalma
If you have questions about Centaurus Financial, Inc. and/or Richard DePalma 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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