Lincoln Financial Advisors Corporation broker Rick Shaw (CRD# 1870018) is accused of oil and gas investment losses. He has been registered with Lincoln Financial Advisors Corporation in Scottsdale, Arizona, since 1998.
In October 2020, the Kansas Insurance Department suspended him for 16 days regarding the following allegations: “My Life, Heath, Variable insurance license was suspended from 10/11/2020 to 10/26/2020 as I was late in paying the renewal fee. The fee was paid and the license re-activated 10/26/2020.”
Rick Shaw Customer Complaints
He has been the subject of 10 customer complaints between 2013 and 2024, two of which were denied, according to his CRD report:
February 2024. “Claimant alleges their RR recommended an unsuitable Oil and Gas investment.” The customer is seeking $1,500,000 in damages, and the case is currently pending.
February 2024. “Claimant alleges their RR recommended an unsuitable Oil and Gas investment.” The customer is seeking $25,000 in damages, and the case is currently pending.
June 2022. “Claimant alleges the representative recommended an Unsuitable Oil & Gas investment.” The case was settled for $26,086.80.
May 2022. “Claimant alleges the representative recommended an unsuitable Oil & Gas investment.” The case was settled for $200,000.
April 2022. “Claimant alleges the RR recommended an unsuitable Oil & Gas investment.” The case was settled for $55,064.72.
April 2022. “Claimants allege the representative recommended an unsuitable Oil & Gas investment.” The case was settled for $496,926.52.
February 2022. “Claimants allege the representative sold unsuitable Oil & Gas and REIT investments.” The case was settled for $140,000.
February 2022. “Claimant alleges the representative sold him two unsuitable investments.” The case was settled for $70,000.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Lincoln Financial Advisors Corporation may be liable for investment or other losses suffered by Rick Shaw’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
"*" indicates required fields
