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Richard Matheis: FINRA Bars Vista Wealth Management Advisor
Former Overland Park financial advisor Richard Matheis (CRD# 869179) was recently barred from acting as a broker following an investigation into potential sales practice violations. Financial Industry Regulatory Authority records show that the former Union Capital broker is an investment advisor with Lexaurum Advisors and the president of Vista Wealth Management.
Mr. Matheis’s BrokerCheck report discloses the recent enforcement action against him. In August 2023 FINRA sanctioned him in connection with allegations that he refused to appear for testimony as part of an “investigation into whether he engaged in any sales practice violations.” He was indefinitely barred from associating with any FINRA member firm in any capacity.
FINRA records also disclose two investor complaints against Mr. Matheis. The most recent, filed in 2021, alleged that as a representative of Berthel Fisher & Company, he recommended an unsuitable Hospitality Investors Trust REIT. The complaint alleged $15,000 in damages and was denied by the firm. A second investor complaint, filed in 2001, alleged that as a representative of VSR Financial Services, he recommended an unsuitable insurance policy. The complaint alleged unspecified damages and was denied by the firm.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Richard Matheis holds 43 years of securities industry experience. Based in Overland Park, Kansas, he has been an investment advisor with Lexaurum Advisors since 2021 and is the president of Vista Wealth Management. His past registrations include Union Capital Company (Overland Park, Kansas; 2018-2021), Berthel Fisher & Company (Overland Park, Kansas; 2008-2018), VSR Financial Services (Overland Park, Kansas; 1986-2008), Titan Capital Corporation (1985-1986), and WZW Financial Services (1979-1984). His credentials include the passage of seven securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the NFA Branch Manager Examination, or Series 30; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is not currently licensed as a broker. (Information current as of August 27, 2023.)
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