Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Raymond Hart (Hart), previously associated with Usaa Investment Services Company, has at least one disclosable event. These events include one customer complaint, alleging that Hart recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $250,000.00 on March 25, 2024.
Customer indicates he was sold annuity without appropriate disclosure of the fact that Hart/Abeyta were receiving extra commissions on top of standard commission payout for selling high volume of one particular annuity family. Customer, a senior citizen, indicated high pressure sales tactics were utilized without informing him of downsides of the policy sold. In addition, Customer accuses Hart/Abeyta of both not complying with Colorado Insurance Best Interest regulations and violating SEC Reg. SP during the sale. Customer indicates Abeyta told him he was the principal Advisor but would work with Hart throughout. Customer indicates throughout meetings with Abeyta/Hart he was subject to extreme vision issues as well as inability to concentrated to a recent assault. Customer believes Hart/Abeyta took advantage of his debilitation by utilizing high pressure tactics while in his diminished state. Customer filed complaint with Annuity issuer and was denied based solely upon mutually supporting statements from Abeyta/Hart. Customer also alleges violation of Reg. SP and Colorado Privacy laws in that Abeyta and Hart currently have unauthorized possession of his private client financial data and have shared it with their new advisory firm.