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Suitability Complaint Against Regal Wealth’s Andrew Pincus
Boca Raton and Florham Park broker Andrew Pincus allegedly recommended unsuitable transactions, according to a pending investor complaint. Financial Industry Regulatory Authority records show that he is a representative of LPL Financial, doing business as Regal Wealth Advisors.
Mr. Pincus’s BrokerChek report discloses a single investor complaint. Filed in March 2022, it alleges unsuitable transactions involving real estate securities while he was a representative of Kestra Investment Services. The pending complaint alleges unspecified damages that may exceed $5,000.
One of many investor protections is FINRA’s suitability standard. As established by FINRA Rule 2111, it requires brokers and firms to “have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile..” Brokers who do not have that reasonable basis, or who recommendation transactions that aren’t suitable for their customers, are considered to have violated Rule 2111.
According to the Financial Industry Regulatory Authority, Andrew Pincus holds 17 years of securities industry experience. Based in Boca Raton, Florida, and Florham Park, New Jersey, he has been a representative of LPL Financial, doing business as Regal Wealth Advisors, since 2019. He is also registered with LPL’s office in Myrtle Beach, South Carolina. His past registrations include Kestra Investment Services (Boca Raton, Florida; 2004-2019) and NFP Advisor Services (Boca Raton, Florida; 2004-2016). His credentials include the passage of three securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He is licensed in Arizona, California, Colorado, Connecticut, Florida, Georgia, Indiana, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Vermont, Virginia, Washington, West Virginia, and Wyoming. (Information current as of May 18, 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.