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Jerry Davis Raines formerly with HD Vest Investment Services Has 17 Customer Complaints for Alleged Broker Misconduct In the Past 2 Years

Who is Jerry D. Raines formerly with HD Vest Investment Services?

Jerry Raines (CRD # 4578689) who was formerly registered with HD Vest Investment Services and located in Kilgore, Texas is a subject of one of our many securities industry sales practice abuse investigations.  Prior to HD Vest Investment Services, Jerry Raines has associated with two other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

HD Vest Investment Services Broker Misconduct

In his career, Jerry Raines has been the subject of 17 customer complaints that we know about, all of those complaints were filed in the last two years to recover investment losses. Fourteen of Jerry Raines’ 17 customer complaints were settled in favor of investors. Three of the customer complaints filed against Jerry Raines’ former employer HD Vest Investment Services for investment losses caused by his alleged misconduct were denied by his employer and to date, the customers have not taken any further action.

Allegations Against Jerry Raines

A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:

  • Raines sold claimants, Woodbridge Mortgage Investment Funds 1 and 2.  The allegations include unsuitable recommendations and misrepresentation.
  • Claimants allege the Representative misrepresented the risk associated with investing in Woodbridge Group of Companies, LLC, and also allege the product into which they invested was not suitable.
  • Claimants allege that the advisor-sold and investment, Woodbridge Mortgage Fund that was unauthorized by the broker-dealer.
  • Jerry Raines sold claimant, Woodbridge Pre-settlement Funding, LLC.  The allegations include unsuitable recommendations and misrepresentations.
  • Claimants alleged that the representative misrepresented Woodbridge Mortgage Investment Fund, and failed to conduct reasonable due diligence on the unregistered security.

Jerry Raines Red Flags & Your Rights As An Investor

Of course, Jerry Raines did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Jerry Raines at HD Vest Investment Services on alert to review carefully the activity and performance of their accounts and question whether Jerry Raines has engaged in any stockbroker misconduct that may have caused them investment losses.

A large number of customer complaints at HD Vest Investment Services also raises questions about supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim to Recover Your Investment Losses At HD Vest Investment Services

If you have questions about HD Vest Investment Services and/or Jerry Raines and the management or performance of your accounts please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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