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Larry Stringer, Hendersonville Advisor, Lands Suitability Complaint
Multiple investor complaints against Capital Investment Group’s Larry Stringer (CRD# 1996822) allege misconduct relating to real estate investments. Records provided by the Financial Industry Regulatory Authority show that he is a broker and an investment advisor based in Hendersonville, North Carolina.
New Pending Complaint Alleges Unsuitable Product
Mr. Stringer’s BrokerCheck report details three investor complaints. The most recent was filed in October 2022, alleging that he recommended an unsuitable direct investment. A pending complaint, it seeks damages of $50,000. A 2019 complaint, meanwhile, alleged that an unsuitable real estate investment trust recommendation led to $8,950 in damages, and was denied by Capital Investment Group. In 2014, a complaint alleging misrepresentation of investments in a variable annuity and an REIT sought damages of $70,000 and was also denied by Capital Investment Group.
Understanding FINRA Rules
For reference, FINRA Rule 2020 stipulates that financial advisors at FINRA member firms must not “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” What this means is that brokers are forbidden from making misrepresentations of material information—that is, information posing a significant consideration for investors weighing a particular investment product or strategy—related to their recommendations. Brokers who make misrepresentations may be held liable for damages in the event that an investment suffers losses, or they may even be held subject to disciplinary action by securities regulators.
FINRA: Stringer Based in Hendersonville, North Carolina
According to Financial Industry Regulatory Authority records, Larry Stringer has spent 32 years working as a broker. He has been a representative of Capital Investment Group since 2011, based out of the firm’s office in Hendersonville, North Carolina. His registration history includes firms like American Portfolios Financial Services, KCD Financial, Triad Advisors, and Washington Square Securities. He has worked in cities including Holbrook, New York and Winsdor, Connecticut. Having passed six securities industry qualifying exams, including the Series 65 and the Series 24, he currently holds 25 state licenses. More information about his history as a broker, including the recent pending complaint against him, is accessible via his FINRA-maintained BrokerCheck report. (Information current as of November 29, 2022.)
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.