Investor Alert: Broker Rikki JR Foster (CRD #6075051) Facing $700,000 Investor Complaint – Investors May Recover Losses
Rikki JR Foster (also known as Rikki J. Foster II) – CRD #6075051 – is the subject of a pending customer complaint alleging serious misconduct involving unsuitable investment recommendations and misrepresentation.
According to FINRA BrokerCheck, a customer filed a complaint in September 2025 against Foster, claiming breach of fiduciary duty, breach of contract, misrepresentation, and unsuitability. The complaint involves Direct Investment–DPP & LP interests. The complaint seeks $700,000 in damages and remains pending.
Employment and Regulatory Background
Rikki JR Foster has been registered in the securities industry since 2011 and is currently affiliated with Concorde Investment Services, LLC in West Bloomfield, Michigan. He is also registered as an investment adviser representative with Concorde Asset Management, LLC.
Over his career, Foster has worked for several firms, including:
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Bangerter Financial Services, Inc.
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Berthel Fisher & Company Financial Services, Inc.
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Hornor, Townsend & Kent, Inc.
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Waddell & Reed, Inc.
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AXA Advisors, LLC
FINRA’s records show no prior disciplinary history but indicate that Foster is currently the subject of a significant pending investor dispute. The complaint could suggest problems with suitability and supervision of high-risk or illiquid investments.
Risks of DPP and LP Investments
Direct Participation Programs (DPPs) and Limited Partnerships (LPs) often involve complex, illiquid, and high-risk products such as real estate ventures, energy programs, or private placements. These investments may be unsuitable for conservative or retirement-age investors seeking steady income or liquidity.
Rikki JR Foster (CRD #6075051) Facing $700,000 Investor Complaint – Investors May Recover Losses
When brokers recommend these products without fully explaining the risks, they may violate FINRA’s suitability rules and their fiduciary duty to act in the client’s best interest.
Goodman & Nekvasil, P.A. – Investor Recovery Attorneys
Goodman & Nekvasil, P.A., based in St. Petersburg, Florida, represents investors nationwide who have suffered losses due to broker misconduct, unsuitable recommendations, or misrepresentation.
The firm has recovered more than $500 million for clients through FINRA arbitration and securities litigation and continues to investigate cases involving Concorde Investment Services and alternative investment sales practices.
If you invested through Rikki JR Foster and suffered losses, you may be entitled to recover your funds through FINRA arbitration. Call (800) 500-4442 today for a free consultation. There is no fee unless we recover money for you.
About Goodman & Nekvasil, P.A.
Goodman & Nekvasil, P.A. has filed numerous cases against brokerage firms selling high-risk and unsuitable investments and has recovered more than $500 million on behalf of victimized investors.
In these cases, the firm alleges that brokers made recommendations unsuitable for clients based on their financial situation, needs, and investment objectives.
Goodman & Nekvasil, P.A. is actively investigating brokers who may have unsuitably recommended investments to their clients.
There is no charge for an evaluation of your case. All cases are handled on a contingency fee basis, meaning no attorney’s fee is charged unless we recover money for you.
If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact Goodman & Nekvasil, P.A. at (800) 500-4442
Some of the information in this blog post was obtained from FINRA on 10/23/25. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.