Investors reportedly may have incurred losses due to securities broker Christopher Brian Riggs [CRD: 4133082, Petersburg, Virginia], according to disclosures on FINRA BrokerCheck. According to the regulator, Christopher Riggs worked for LPL Financial LLC from September 19, 2007, to October 26, 2023. Keep reading to learn more about Christopher Riggs’ disclosures.
Particularly, on May 2, 2024, an LPL Financial LLC client filed FINRA Arbitration No. 24-00611 about Christopher Riggs. Supposedly, Riggs made unsuitable recommendations regarding real estate securities in 2014 that did not align with the client’s investment objectives and risk tolerance. Because of this, the client allegedly sustained damages. Therefore, the client requested damages from LPL Financial LLC or Riggs. Evidently, this arbitration is pending a resolution.
Specifically, an LPL Financial LLC client filed FINRA Arbitration No. 20-03411 about Christopher Riggs. Supposedly, Riggs made unsuitable recommendations regarding real estate securities in his brokerage account between August 2014 and November 2020. Because of this, the client allegedly sustained damages. Therefore, on January 25, 2022, LPL Financial LLC settled this matter by paying the client $25,000 in damages.
Also, on October 8, 2019, an LPL Financial LLC client filed a complaint about Christopher Riggs. Particularly, the client alleged that Riggs made misrepresentations of material fact and provided unsuitable recommendations regarding real estate securities. The activity in question occurred between September 17, 2014, and October 8, 2019. Therefore, the client requested $48,500 in compensation from LPL Financial LLC or Riggs.
The complaint was denied on October 29, 2019. According to Riggs, the presented investments aligned with the client's stated objectives, and he denied all allegations of wrongdoing.
Specifically, a client of Edward Jones and LPL Financial LLC contested Christopher Riggs’ sales practices by filing FINRA Arbitration No. 10-02525. Allegedly, Riggs made misrepresentations of material fact and made unsuitable recommendations regarding corporate bonds purchased in 2004 and mutual funds purchased in May 2008. It appears that Riggs caused the client to sustain damages. Therefore, Edward Jones and LPL Financial LLC opted to settle the matter on November 1, 2010, by compensating the client in the amount of $18,000.
Also, on September 24, 2004, an Edward Jones client filed a complaint about Christopher Riggs. The client alleged that Riggs misrepresented the features of federal home loan mortgage bonds. Specifically, the client claimed they were not informed that the bonds had a maturity date of 2023 and were led to believe they could withdraw their funds within four years. Additionally, the client stated that the interest rate on the bonds was initially presented as 5%, but by the time of purchase, it had dropped to 4.25%. Therefore, the client requested $5,000 in compensation from Edward Jones or Riggs.
Are you looking for more information about Christopher Riggs? If you incurred losses, contact Soreide Law Group online or at (888) 760-6552 and talk to a securities lawyer about a possible recovery. Soreide Law Group has recovered losses for investors throughout the country, represents clients on a contingency fee basis, and advances all costs. Riggs and brokerage firms Riggs worked for deny accusations of sales practice violations.
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