Erez Law is currently investigating J.J.B. Hilliard, W.L. Lyons, LLC broker Richard Reames (CRD# 712401), who is accused of unsuitable investment recommendations. He has been registered with Robert W. Baird & Co. in Ashland, Kentucky, since 2019. Previously, he was registered with J.J.B. Hilliard, W.L. Lyons, LLC in Ashland, Kentucky, from 2004 to 2019.
Richard Reames Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
October 2022. “Client alleges Financial Advisor recommended unsuitable investments that led to losses in her account, engaged in churning, and moved assets into an advisory account without her informed consent.” The customer is seeking $209,724.08 in damages, and the case is currently pending. The complaint was regarding equity OTC, and it took place while he was registered with J.J.B. Hilliard, W.L. Lyons, LLC.
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, J.J.B. Hilliard, W.L. Lyons, LLC may be liable for investment or other losses suffered by Richard Reames’ 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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