Houston, Texas financial advisor Kim Tran (CRD# 5575725) was recently sanctioned and suspended in connection with alleged rule violations. Financial Industry...
Read MoreBoca Raton Advisor Karl Foust: Investor Complaints
Settled and pending investor complaints against former Boca Raton, Florida broker and investment advisor Karl Foust (CRD#: 1010291) allege conduct including suitability violations, failure to disclose conflicts of interest, misrepresentations, and more. Foust is a former representative of HD Vest Investment Services, according to information drawn from Financial Industry Regulatory Authority records.
A pending 2019 complaint alleges that as a representative of HD Vest Investment Services, Karl Foust recommended unsuitable investments in Wimbledon Health Partners and NeuroRad Diagnostic Centers, and “did not disclose any potential conflicts of interest” in his relationship with Wimbledon. The complaint alleges unspecified damages.
A pending 2018 complaint alleges that as a representative of HD Vest Investment Services, Karl Foust misrepresented and recommended an unsuitable investment in Wimbledon Health Partners. The complaint alleges damages of $100,000.
A pending 2018 complaint alleges that as a representative of HD Vest Investment Services, Karl Foust misrepresented material facts related to an unsuitable recommendation to invest in HD Vest Investment Services. The complaint alleges damages of $95,000.
A pending 2018 complaint alleges that as a representative of HD Vest Investment Services, he did not disclose potential conflicts of interest in his relationship with Wimbledon Health Partners, an investment he recommended which allegedly later defaulted on its promissory note and security agreement. The complaint alleges damages of $167,000.
A 2017 complaint alleged that as a representative of HD Vest Investment Services, he recommended an unsuitable investment in Wimbledon Health Partners and misrepresented his association with the entity, which “breached their agreement and failed to pay monies due to the client.” The complaint reached a settlement in 2018 of $105,000.
Karl Foust is currently not registered as a broker or investment advisor. His employment history includes HD Vest Investment Services in Boca Raton, Florida; Gunnallen Financial in Del Ray Beach, Florida; Thomas James Associates; Apple Financial Corporation; and First Jersey Securities. He currently holds zero state licenses and has passed five securities industry qualification examinations.
