Last Updated: January 2024 (Valencia, CA)
Choosing an investment advisor is one of the most important financial decisions you can make. It’s more than just picking an expert; it’s entrusting someone with your financial dreams. Unfortunately, trust can sometimes be broken, as seen in my inquiry into Valencia, CA stockbroker, Mr. Richard Dustin Brittain of Equitable Advisors.
The issue at hand concerns claims that Mr. Brittain made investment suggestions that weren’t right for his client. Let’s take a closer look at who Richard Brittain is.
Who is Richard Brittain?
- Name: Mr. Richard Dustin Brittain
- Current Employer: Equitable Advisors
- Function: Stockbroker/Financial Advisor/Registered Investment Adviser
- Primary Location: Valencia, CA
- CRD 5928857
- Can Richard Brittain be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Customer Made Complaint That Was Denied by Firm: Yes
What was the Alleged Misconduct?
In December 2023, a customer argued that Richard Brittain advised them to invest in an annuity that wasn’t a good fit. His employer, Equitable Advisors, threw out the complaint. We shouldn’t consider the matter closed though.
The Financial Industry Regulatory Authority (FINRA), known as the brokerage industry’s guardian, requires that brokers and their employers report any client grievances. This upholds transparency for investors.
Although the complaint against Brittain was denied by Equitable Advisors, which may seem like a case closed, I see it differently. A firm’s denial doesn’t mean the fight is over for the investor.
What Does This Mean for Investors?
If you believe Richard Brittain has mismanaged your funds or your complaint was rejected, it’s important to know that you still have options.
Securities law experts can assess your situation and tell you the best way to try to get back any investment losses. Often, they’ll review your case without charging you upfront.
To bring Richard Brittain and Equitable Advisors to answer for their actions, FINRA arbitration is an available path. It is a specialized arena for dealing with investment disputes. You also have the right to start a FINRA arbitration lawsuit against Brittain.
The trend of customer complaints being readily discarded is troubling. It’s vital for investors to stay alert and act to protect their financial well-being. The case of Richard Brittain serves as a reminder of this imperative.
As Benjamin Franklin once said, “An investment in knowledge pays the best interest.” When it comes to safeguarding your investments, nothing could be truer. Make sure you’re informed about your rights and the track record of your financial advisor.
A sobering financial fact to consider: Bad financial advisors have cost Americans millions in lost savings. In fact, it’s reported that misconduct by financial advisors can lead to average losses of 2.9% a year for clients. This highlights the importance of due diligence when choosing an advisor and knowing how to check their record, including their FINRA CRD number.
In conclusion, my analysis has revealed that the case of Richard Brittain underscores the need for vigilance in the financial advisor-client relationship. Stay informed, ask questions, and never hesitate to seek legal help if something doesn’t seem right with your investments. Your financial future may depend on it.
