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Karl Ronald Foust Jr formerly with H.D. Vest Investment Services Has 8 Customer Complaints For Alleged Broker Misconduct

Who is Karl R. Foust Jr formerly with H.D. Vest Investment Services?

Karl Foust (CRD #1010291) who was formerly registered with H.D. Vest Investment Services and located in Boca Raton, Florida is a subject of one of our many securities industry sales practice abuse investigations. Prior to H.D. Vest Investment Services, Karl Foust was associated with 4 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Karl Foust was recently suspended by FINRA for failure to comply with an arbitration award entered against him in the amount of $200,000, and failure to provide information concerning the status of his compliance with the arbitration award. The award related to his recommendation that the Claimant invest in Wimbleton Health Partners, LLC promissory note which was never repaid. Karl Foust allegedly did not disclose any potential conflicts of interest concerning his relationship with Wimbleton Health Partners, LLC. Claimant also alleges that the investment recommendation was unsuitable for her and the arbitrators apparently agreed by entering the award.

H.D. Vest Investment Services Broker Misconduct

In his career, Karl Foust has been the subject of 8 customer complaints that we know about, 3 of those complaints were filed in the last year to recover investment losses. Five of Karl Foust’s 8 customer complaints were settled in favor of investors. There are currently 3 pending customer complaints filed against Karl Foust’s former employer H.D. Vest Investment Services for investment losses caused by his alleged misconduct.

Allegations Against Karl Foust

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

  • Claimant alleged negligence, breach of fiduciary duty, negligent supervision in violation of Chapter 517 of the Florida Securities and Investor Protection Act.
  • Client alleged that registered representative recommended an investment in Wimbleton Health Partners, LLC which, according to the investor was an unsuitable and conflicted investment recommendation.
  • Client alleged a registered representative recommended that she invest in Wimbleton Health Partners, LLC and Arrow rad.

Karl Foust Red Flags & Your Rights As An Investor

Of course, Karl Foust 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 Karl Foust at H.D. Vest Investment Services on alert to review carefully the activity and performance of their accounts and question whether Karl Foust has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at H.D. Vest Investment Services about Karl Foust also raises questions about its 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 H.D. Vest Investment Services

If you have questions about H.D. Vest Investment Services and/or Karl Foust 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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