Soreide Law Group is investigating potential investor claims of sales practice violations possibly committed by securities broker Richard Lance Belline [CRD: 2432737, Rogers, Arkansas], based on the disclosures on the Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Belline worked for Equitable Advisors LLC from December 14, 1993, to October 18, 2023. Continue reading to learn more about the disputes and allegations made against Belline.
On December 18, 2023, a client of Equitable Advisors LLC filed a complaint about Richard Belline. Mainly, the client alleged that Belline overcharged advisory fees. Consequently, the client sought $64,781.68 in compensation from Equitable Advisors LLC or Belline.
Specifically, on November 21, 2023, a client filed FINRA Arbitration No. 23-03300 concerning Richard Belline. Supposedly, Belline recommended a REIT that was unsuitable. Therefore, the client allegedly sustained damages. Evidently, this arbitration is pending a resolution.
Notably, on October 16, 2023, Equitable Advisors LLC disaffiliated with Belline. Evidently, the firm alleged that Belline violated the firm's procedures and policies by settling client complaints away from the firm, which included unauthorized trading and issues related to the charging of advisory fees.
On August 17, 2023, Equitable Advisors LLC received a complaint from a client concerning Richard Belline. The client alleged that Belline charged inappropriate advisory fees in their advisory accounts. Consequently, Equitable Advisors LLC settled this matter on November 8, 2023, by compensating the client $28,023.88 in damages.
Particularly, a client of Equitable Advisors LLC contested Richard Belline’s sales practices, according to a written complaint filed on May 16, 2023. It appears that Belline allegedly caused the client to overpay fees. Consequently, Equitable Advisors LLC opted to settle the matter on May 19, 2023, by compensating the client in the amount of $16,076.39.
Did you suffer losses because of Richard Belline? If so, get in touch with Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors across the country, works on a contingency fee basis, and advances all costs. Belline and the brokerage firms he worked for deny any allegations of sales practice violations.
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