Investors have reportedly disputed the sales practices of securities broker Richard George Hubert DePalma [CRD: 4517536, Erie, Pennsylvania], according to publicly available information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. DePalma has been registered with Centaurus Financial Inc. as a securities broker since October 31, 2007, and as a financial advisor since May 27, 2010. Investors should continue reviewing the information below to find out more about the disclosures associated with DePalma’s regulatory record.
Centaurus Financial Inc. Investor Accused DePalma Of Misrepresentation
Particularly, on July 15, 2025, a Centaurus Financial Inc. client filed FINRA Arbitration No. 25-01392 about Richard DePalma. Primarily, the client alleged that DePalma made misrepresentations and made unsuitable recommendations involving risky investments that were illiquid in nature. Because of this, the client allegedly experienced damages relating to corporate bonds. Consequently, the client requested $124,000 in compensation from Centaurus Financial Inc. or DePalma. It appears that this arbitration awaits a resolution.
Richard DePalma Disclosed Breach Of Fiduciary Duty, Unsuitable Recommendations Allegations By Centaurus Financial Inc. Client
Notably, a client of Centaurus Financial Inc. disputed Richard DePalma’s sales practices by filing FINRA Arbitration No. 24-02552. Allegedly, DePalma breached his fiduciary duty and made unsuitable recommendations. It appears that DePalma caused the client to sustain damages connected to corporate bonds. Therefore, Centaurus Financial Inc. opted to settle the matter on August 7, 2025, by compensating the client in the amount of $27,113.
DePalma Disclosed Misrepresentation Allegations By Centaurus Financial Inc. Client
Also, a client of Centaurus Financial Inc. contested Richard DePalma’s sales practices by filing FINRA Arbitration No. 24-00289. Allegedly, DePalma made unsuitable recommendations and made misrepresentations, and breached his fiduciary duty. It appears that DePalma caused the client to incur damages relating to corporate bonds. As a result, Centaurus Financial Inc. opted to settle the matter on July 22, 2025, by compensating the client in the amount of $86,500.
Richard DePalma Disclosed Unsuitable Recommendations Allegations By Centaurus Financial Inc. Client
Evidently, a client of Centaurus Financial Inc. disputed Richard DePalma’s sales practices by filing FINRA Arbitration No. 23-00740. Allegedly, DePalma made misrepresentations and made unsuitable recommendations involving high-risk and illiquid investments. It appears that DePalma caused the client to experience damages linked to corporate bonds. Consequently, Centaurus Financial Inc. opted to settle the matter on February 14, 2024, by compensating the client in the amount of $50,000.
Did You Invest With Financial Advisor / Securities Broker DePalma?
Did you suffer any investment-related losses because of Richard DePalma? If so, reach out to Soreide Law Group at (888) 760-6552 or online and consult with a securities attorney regarding a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States. Also, the firm represents investors on a contingency fee basis and advances all costs. DePalma and brokerage firms DePalma worked for deny accusations of sales practice violations.
