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Richard Towey Of PFS Investments Has 5 Customer Complaints For Alleged Broker Misconduct

Who Richard Towey of PFS Investments?

Richard Towey (CRD #1175708) who is currently registered with PFS Investments and located in Doylestown, Pennsylvania is a subject of one of our many securities industry sales practice abuse investigations.

Richard Towey Customer Complaints

Richard Towey has been the subject of 5 customer complaints that we know about. Four of Richard Towey’s 5 customer complaints were settled in favor of investors. One of Richard Towey’s customers’ complaints was denied and, to date, the customers have not taken any further action.

Allegations Against Richard Towey

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

  • Customer alleged that Richard Towey did not inform her of the sales charges associated with rolling over her IRA mutual fund.
  • Customer alleged that he did not authorize Richard Towey to open his PFSP mutual fund account.
  • Customer alleged that Richard Towey failed to follow her instructions to have her funds redeemed in full.
  • The client alleged that Richard Towey induced her to purchase unsuitable mutual fund and variable annuity investments. She also alleged that she sustained significant losses due to these transactions.
  • Customer alleged that Richard Towey’s recommendations for her investments has caused her to incur sale charges when she redeems her funds, so she believes that Mr. Towey’s investment recommendations were not suitable for her needs.

Richard Towey Red Flags & Your Rights As An Investor

Of course, Richard Towey 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 Richard Towey at PFS Investments on alert to review carefully the activity and performance of their accounts and question whether Richard Towey has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at PFS Investments also raises questions about the brokerage firms’ 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 PFS Investments Due To Richard Towey

If you have questions about PFS Investments and/or Richard Towey 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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