Richard McFarland Involved In IFG Investor Complaint Regarding Misrepresentation

Investors might have sustained losses due to securities broker Richard Benn McFarland Jr. [CRD: 1080626, Wyomissing, Pennsylvania], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Richard McFarland worked for Independent Financial Group LLC from July 15, 2022, to January 3, 2023, and for NPB Financial Group LLC from May 17, 2006, to July 15, 2022. Keep reading to learn more about Richard McFarland's disclosures.

Independent Financial Group LLC Investor Accused McFarland Of Misrepresentation

Evidently, a client of Independent Financial Group LLC filed FINRA Arbitration No. 23-01911 about Richard McFarland Mainly, the client alleged that McFarland recommended investments that were concentrated in low quality, speculative, illiquid, and high commission non-traded REITs (real estate investment trusts) and BDCs (business development companies). For this reason, on February 22, 2024, Independent Financial Group LLC settled this matter by paying the client $68,899 in damages.

Richard McFarland Disclosed Negligence Allegations By NPB Financial Group LLC Client

Also, a client of NPB Financial Group LLC contested Richard McFarland’s sales practices, according to a complaint dated March 9, 2009. Allegedly, McFarland was negligent. It appears that McFarland allegedly caused the client to sustain damages. As a result, the client sought damages from NPB Financial Group LLC or McFarland in the amount of $200,000 in this matter. However, the customer closed this dispute without taking further action.

Penn Mutual Equity Services Investor Accused McFarland Of Misrepresentation

Additionally, a Penn Mutual Equity Services client filed NASD Arbitration No. 96-01109 about Richard McFarland. Supposedly, McFarland misrepresented material facts, failed to supervise, breached his fiduciary duty, and was negligent. Because of this, on August 23, 1997, Penn Mutual Equity Services settled this matter for $44,000.

Did You Sustain Losses Because Of Securities Broker Richard McFarland?

Did you experience losses because of Richard McFarland? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney regarding a potential recovery. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. McFarland and brokerage firms McFarland worked for deny accusations of sales practice violations.