There are options for clients of former Money Concepts Capital Corp. broker Hector Hernandez (CRD# 4654126) who suffered investment losses. He was registered with Peak Brokerage Services, LLC in San Antonio, Texas, from 2021 to 2022, and with Money Concepts Capital Corp. in Shavano Park, Texas, from 2012 to 2021, when he was terminated regarding, “the firm is conducting an internal investigation for possible failing to disclosure outside business activity.”
In November 2023, FINRA barred him after he “consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with its investigation into his potential failure to disclose an OBA while he was associated with his member firm.”
Hector Hernandez Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
August 2022. “Former Customer alleges unsuitability, breach of contract, violation of FINRA rules, annuity switches, and failure to disclose commission sharing arrangement with accountant in connection with products sold away from the firm.” The case is currently pending. The complaint was regarding insurance losses.
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, Money Concepts Capital Corp. may be liable for investment or other losses suffered by Hector Hernandez’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.
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