Rick Lopez: Arkadios, Ex-LPL Advisor Faces Suitability Complaint

A recent investor complaint against McAllen, Texas financial advisor Rick Lopez (CRD# 2209385) alleges that he recommended an unsuitable investment. Financial Industry Regulatory Authority records show that he is currently registered as a broker with Arkadios Capital and an investment advisor with Arkadios Wealth Advisors, having previously been registered with LPL Financial.

Mr. Lopez’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in March 2024, alleges that as a representative of LPL Financial, he recommended an unsuitable investment in a real estate product. The pending complaint alleges unspecified damages of at least $5,000.

An earlier investor complaint, filed in 2020, alleged that as an LPL Financial representative, he recommended unsuitable non-traded real estate investment trust (REIT) products. In 2021 the complaint reached a settlement of $75,000.

A third investor complaint, filed in 2019, alleged that he “misrepresented and recommended unsuitable, concentrated investments in speculate real estate investment trusts” and addtionally that he recommended an unsuitable annuity switch. In 2020 the complaint reached a settlement of $150,000.

A fourth investor complaint, filed in 2017, alleged that as an LPL representative, he recommended unsuitable products. The complaint evolved into an arbitration proceeding before a FINRA panel, which issued an award to the customer of $1,554,839.70.

According to the Financial Industry Regulatory Authority, Rick Lopez holds 26 years of securities industry experience. Based in McAllen, Texas, he has been registered as a broker and an investment advisor with Arkadios Capital and Arkadios Wealth Advisors, respectively, since 2018. His past registrations include LPL Financial, Raymond James Financial Services, Merrill Lynch, Edward D. Jones & Company, and HD Vest Investment Services. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Texas. (Information current as of May 28, 2024.)

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