Richard Huppert: Cetera Advisor Faces $4.7mm Complaint

Brooklyn, New York financial advisor Richard Huppert (CRD# 2375483) recently received an investor complaint alleging that his advice resulted in damages exceeding $4 million. Financial Industry Regulatory Authority records show that he is registered as a broker with Cetera Wealth Services.

Mr. Huppert’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in November 2025, alleges that as a representative of Cetera Wealth Services, he recommended an unsuitable options strategy. The pending complaint alleges damages of $4.7 million.

An earlier investor complaint, filed in 2013, similarly alleged that as a representative of LPL Financial, he recommended an unsuitable investment strategy. The complaint alleged unspecified damages and was denied by the firm.

A third investor complaint, filed in 2002, alleged that as a representative of Raymond James Financial Services, he provided poor investment advice and mismanaged the account. The complaint alleged damages of $37,460 and was denied by the firm.

A fourth investor complaint, filed in 2000, alleged that as a Raymond James Financial Services representative, he failed to follow instructions relating to “the liquidation of 40 option contracts in Commerce One.” The complaint reached a settlement of $60,000.

FINRA Rule 2010 requires FINRA-associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Many types of unethical conduct, including the failure to follow a customer’s instructions, may be found to constitute violations of FINRA Rule 2010, provided the alleged activities occur “in the conduct of [the member’s] business.” Brokers who fail to uphold FINRA Rule 2010 may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, Richard Huppert holds 32 years of securities industry experience. Based in Brooklyn, New York, he has been registered as a broker with Cetera Wealth Services since 2019. His past registrations include Summit Brokerage Services, LPL Financial, Robert Thomas Securities, Nichols Safina Lerner & Company, Dalton Kent Securities Group, and Guardian Investor Services Corporation. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Principal Examination, or Series 24; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in California, Colorado, Connecticut, Florida, Massachusetts, New Jersey, New York, and Pennsylvania. (Information current as of December 27, 2025.)

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.