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Rick Harbus: $350K Complaint Against HBW Advisor

Long Beach, California financial advisor Rick Harbus (CRD# 2278654) recently received an investor complaint alleging that his conduct resulted in six-figure damages. Securities and Exchange Commission records show that he is an investment advisor with HBW Advisory Services, having previously been registered as a broker with Cetera Advisor Networks.

Mr. Harbus’s BrokerCheck report discloses three investor complaints. The most recent, filed in December 2023, alleges that as a representative of HBW Advisory Services, he recommended investment strategies that “were not effective in mitigating” losses. The pending complaint alleges damages of $350,000.

An earlier investor complaint, filed in 2006, alleged that as a PFS Investments representative, he recommended an annuity that incurred $20,000 in fees. The complaint reached a settlement of more than $19,000.

HBW Advisory Services’ website features a page describing the firm’s philosophy and investment approach. “HBW believes in being on the cutting edge of markets and services,” it states. “We follow the movement of markets and competitive products closely, making certain that our advisors have everything they need to better serve their clients… We believe that our advisors ought to be highly and continually trained for maximum effectiveness. Therefore, we place a constant emphasis on training and gladly offer the support and means and content our advisors need to stay at that leading edge.”

According to the Securities and Exchange Commission, Rick Harbus holds 27 years of securities industry experience. Based in Long Beach, California, he has been an investment advisor with HBW Advisory Services since 2013. His past registrations include Cetera Advisor Networks  (Oxnard, California; 2017-2019), HBW Securities (Oxnard, California; 2011-2017), and PFS Investments (Ventura, California; 1992-2011). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California and Texas. (Information current as of December 26, 2023.)

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.

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