Richard Reynolds Discloses Allegations Of Churning

Soreide Law Group is investigating possible investor claims against securities broker Richard Reynolds AKA Richard Foerster Reynolds [CRD#: 2162706, Garden City, NY]. Specifically, Financial Industry Regulatory Authority (FINRA) BrokerCheck discloses that investors disputed the sales practices of the securities broker, who worked for Worden Capital Management. Notably, investors allege sales practice violations in these disputes, including that Reynolds made unsuitable and unauthorized transactions, churned investments, acted unethically, charged the client excessive commissions, made excessive transactions, and breached a fiduciary duty. Here is a brief summary of the disclosures about Reynolds.

Worden Capital Management Investor Accuses Richard Reynolds Of Churning

Evidently, a Worden Capital Management client filed FINRA Arbitration #: 21-02186 about Richard Reynolds. Namely, the client alleged that Reynolds made unsuitable and unauthorized transactions, churned the client’s account, acted unethically, charged the client excessive commissions, made excessive transactions, and breached a fiduciary duty. Because of this, the client sustained damages on over-the-counter equities and stocks. Therefore, on April 5, 2022, Worden Capital Management settled this matter by paying the client $100,000.

Reynolds Discloses Churning Allegations By Worden Capital Management Client

Also, a client of Worden Capital Management contested Richard Reynolds’ sales practices by filing FINRA Arbitration #: 22-00347 on March 21, 2022. Allegedly, Reynolds churned the client’s account, charged the client excessive commissions, made unauthorized and unsuitable transactions, was negligent, breached a contract, and acted unethically. Supposedly, the over-the-counter equities and stocks which Reynolds sold or recommended had caused the client to sustain damages. Therefore, the client seeks compensatory relief from Worden Capital Management or Reynolds in the amount of $376,966.61 in this ongoing matter.

Worden Capital Management Investor Accuses Richard Reynolds Of Negligence

Also, a Worden Capital Management client filed FINRA Arbitration #: 18-04439 about Richard Reynolds. Notably, the client alleged that Reynolds was negligent. Because of this, the client sustained damages on over-the-counter equities and stocks. Therefore, on March 11, 2020, Worden Capital Management settled this matter by paying the client $14,500.

Reynolds Discloses Sales Practice Violations Allegations By Worden Capital Management Client

Evidently, a client of Worden Capital Management contested Richard Reynolds’ sales practices, according to a complaint. Allegedly, Reynolds committed sales practice violations. Supposedly, the over-the-counter equities and stocks which Reynolds sold or recommended had caused the client to sustain damages. Therefore, Worden Capital Management opted to settle the matter on January 30, 2020 by compensating the client in the amount of $4,000.

Worden Capital Management Investor Accuses Richard Reynolds Of Misrepresentation

Also, a Worden Capital Management client filed FINRA Arbitration #: 18-03760 about Richard Reynolds. Namely, the client alleged that Reynolds acted unethically, made misrepresentations, was negligent, breached a contract, and breached a fiduciary duty. Because of this, the client sustained damages on over-the-counter equities and stocks. Therefore, on October 2, 2019, Worden Capital Management settled this matter by paying the client $14,999.99.

American Capital Partners Securities Broker Sanctioned By Illinois For NYSE Sanctions

Moreover, Illinois issued Case #: 16-00100 on May 13, 2016 sanctioning Richard Reynolds for infractions. Allegedly, Reynolds was sanctioned by NYSE. Therefore, on May 13, 2016, Illinois temporarily disallowed his securities registration in the state.

State Michigan Sanctions Rockwell Global Capital and American Capital Partners Securities Broker Richard Reynolds For Dishonest Or Unethical Business Practices

Evidently, on October 4, 2013, State Michigan issued Case #: 321808 sanctioning Richard Reynolds for infractions. Specifically, State Michigan denied Reynolds’ registration as a securities broker. Evidently, State Michigan alleged that Reynolds engaged in dishonest or unethical business practices.

American Capital Partners Securities Broker Sanctioned By NYSE For Outside Business Activities

Also, NYSE issued Case #: HBD: 09-04 on March 10, 2009 sanctioning Richard Reynolds for infractions. Allegedly, Reynolds engaged in an undisclosed outside business activity and made misrepresentations to clients. Therefore, on March 10, 2009, NYSE issued a five-month bar.

American Capital Partners Disaffiliates With Securities Broker Richard Reynolds For Violation Of Company Policy

Notably, American Capital Partners disaffiliated with Reynolds. Evidently, American Capital Partners alleged that Reynolds violated company policy.

Recent Employer Information

Richard Reynolds worked for SW Financial in Melville, NY, as a securities broker from April 5, 2021 to September 14, 2022.

Damages Resulting From Worden Capital Management Securities Broker Richard Reynolds?

Have you sustained damages because of investing through Richard Reynolds? If so, contact Soreide Law Group at (888) 760-6552 to talk with a securities lawyer about potentially recovering your investment losses. Notably, Soreide Law Group has effectively recovered money for investors in all 50 states. The firm represents clients on a contingency fee basis and advances all costs. Reynolds and brokerage firms Reynolds was employed by deny any and all allegations of sales practice violations.