Gregory Ricker – Financial Advisor/Broker Gregory Ricker Suspended from the Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Gregory Alan Ricker CRD #1834893
Gregory Ricker was a previously licensed financial advisor/broker with WestPark Capital, Inc. FINRA reports that Gregory Ricker was fined $75,000 and $5,000 and suspended from the securities industry for 6 months in July 2020. FINRA reports that Gregory Ricker was also suspended from the securities industry for 3 months in September 2019.
According to FINRA:
Regarding the suspension in 2020, Gregory Ricker consented to the sanctions and to the entry of findings that Gregory Ricker engaged in quantitatively unsuitable trading in customer accounts. The findings stated that Gregory Ricker’s trading of the accounts resulted in high turnover rates and cost-to-equity rations as well as significant losses. The customers suffered collective losses of $196,331 and paid $81,523 in commissions and fees. Gregory Ricker also recommended a significant number of trades using margin in the customer accounts. In particular, Gregory Ricker recommended using margin to a customer, even though Gregory Ricker was aware that the customer’s financial circumstances made it unsuitable for him.
Regarding the suspension in 2019, Gregory Ricker failed to respond to FINRA request for information.
According to Gregory Ricker’s BrokerCheck Report, four customer disputes have been settled and one customer dispute is currently pending alleging sales practice violations against Gregory Ricker. One of these customer disputes settled for $70,000.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Gregory Ricker and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Gregory Ricker’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Gregory Ricker and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Some of the information in this blog post was obtained on 7/24/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.