Close Menu
Free Consultation: 888-976-6111

Hector Hernandez: FINRA Bars Ex-Money Concepts Advisor

Former San Antonio, Texas financial advisor Hector Hernandez (CRD# 4654126) was recently sanctioned and barred from acting as a broker. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with Peak Brokerage Services, having previously been registered with Money Concepts Capital Corporation.

Mr. Hernandez’s BrokerCheck report discloses the FINRA sanction against him. Filed in November 2023, it states that he refused to provide on-the-record testimony in connection with a FINRA investigation into his conduct. According to a Letter of Acceptance, Waiver, and Consent (No. 2021073535701), the investigation specifically concerned his “potential failure to disclose an [outside business activity] while he was associated with his member firm.” FINRA found that his refusal violated FINRA Rule 8210, which requires registered persons to comply with such requests, and FINRA Rule 2010, which requires registered persons to observe high standards of commercial honor. In connection with these findings, he was permanently barred from associating with any FINRA member firm.

A second disclosure on his BrokerCheck report concerns an investor complaint against him. Filed in 2022, it alleges that as a representative of Money Concepts Capital Corporation, he recommended unsuitable transactions, breached contract, violated FINRA rules, and failed to disclose a “commission sharing arrangement with [an] accountant in connection with products sold away from the firm.” The pending complaint alleges unspecified damages.

A third disclosure concerns his resignation from Money Concept Capital Corporation. Filed in 2021, it states that he voluntarily resigned during an internal investigation “for possible failing to disclosure outside business activity.”

According to the Financial Industry Regulatory Authority, Hector Hernandez holds 18 years of securities industry experience. He was most recently registered as a broker with Peak Brokerage Services in San Antonio, Texas. His past registrations include Money Concepts Capital (Shavano Park, Texas; 2012-2021), NEXT Financial Group (San Antonio, Texas; 2008-2012), and Northwestern Mutual Investment Services (San Antonio, Texas; 2004-2008). HIs credentials include the passage of three securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is currently barred from acting as a broker. (Information current as of January 17, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Dick Hagan: $400K Complaint Against MassMutual Advisor

    Wauwatosa, Wisconsin financial advisor Dick Hagan (CRD# 2392157) allegedly made an unauthorized transaction, according to a recent investor complaint. Financial...

    Read More
  • Tom Ley: Wells Fargo Advisor Faces Investor Complaint

    Toms River, New Jersey financial advisor Tom Ley (CRD# 1127048) recently received an investor complaint alleging that his conduct resulted...

    Read More
  • Steve Nielsen: Bond Complaints Against Centaurus Advisor

    Recent investor complaints against Gilbert, Arizona financial advisor Steve Nielsen (CRD# 4184826) allege that he recommended unsuitable, high-risk investments. Financial...

    Read More
  • Sam Prapaniku: $115K Complaint Against Ex-Bancorp Advisor

    Costa Mesa, California financial advisor Sam Prapaniku (CRD# 5499421) recently received an investor complaint alleging that he recommended unsuitable investments....

    Read More
  • Previous
  • Next