Public records provided by the Financial Industry Regulatory Authority (FINRA) on May 17, 2018 indicate that Indiana-based David A. Noyes & Company broker Richard Stevens has received resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Stevens (CRD# 435955).
Richard Stevens has spent 49 years in the securities industry and has been registered with David A. Noyes & Company in Indianapolis, Indiana since 1985. Previous registrations include David A. Noyes & Company (1985-1991); Roney & Company (1977-1985); Fulton Reid & Staples (1972-1977); and Hornlower & Weeks Hemphill Noyes (1968-1972). He has passed there securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on January 6, 1984; Series 1 (Registered Representative Examination), which he obtained on July 16, 1968; and Series 24 (General Securities Principal Examination), which he obtained on August 24, 1979. He is a registered broker with eight US states: Arizona, Florida, Indiana, Louisiana, Maryland, Massachusetts, Missouri, and South Carolina.
According to his BrokerCheck report, Richard Stevens has received three customer complaints and one pending customer complaint.
In April 2018 a customer alleged Richard Stevens, while employed at David A. Noyes & Company, failed to conduct adequate due diligence in connection to “unsuitable and inappropriate” private placement products and did not fully disclose the risks of the investments in question. For reference, brokers like Richard Stevens are required to abide by a standard called suitability, which requires them to recommend only investments considered appropriate for their clients’ unique investment profiles. They must weigh such factors as the client’s investment goals, experience, age, income, risk tolerance, and more; brokers who violate applicable rules and regulations may be subject to disciplinary action from FINRA or the Securities and Exchange Commission. The customer is seeking $60,000 in damages in the pending complaint.
In 2014 a customer alleged Richard Stevens, while employed at David A. Noyes & Company, effected “significant trading activity.” The complaint settled for $52,000.
If you or someone you know has lost money investing with Richard Stevens, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.