Last Updated: October 2024 (St. Louis, Missouri)
Felipe Nery Arrieta Financial Advisor Fraud Alert
National securities fraud lawyers at Patil Law P.C. are investigating broker Felipe Nery Arrieta (CRD #4142123), who has faced multiple customer disputes, including allegations of unsuitable recommendations, negligence, and unauthorized trading. His record raises significant concerns for potential investors.
Felipe Nery Arrieta (CRD #4142123) is a financial advisor with over two decades of experience, currently registered with Vestech Securities in St. Louis, Missouri. However, his career has been marked by multiple customer disputes, including allegations of unsuitability, negligence, and unauthorized trading, raising concerns about his handling of client investments. Below, we provide further details on Arrieta’s background and the various customer complaints that may be of concern to potential investors.
Critical insights about St. Louis, MO stockbroker Felipe Nery Arrieta:
- Advisor Name: Felipe Nery Arrieta
- CRD: 4142123
- Location: St. Louis, Missouri
- Current Employer: Vestech Securities, Inc.
- Classification: Stockbroker + Financial Advisor
- Primary Location: St. Louis, MO
- Can Felipe Nery Arrieta be sued in private FINRA arbitration: Yes
- Has Mr. Arrieta been barred by FINRA: No
- Highest Damages Allegation: $747,000
- Pending Customer Dispute: Yes
If you have suffered investment losses due to Felipe Nery Arrieta, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty lawyer. Reach out to the legal team at Patil Law P.C. via the secure online form or call the firm directly toll-free at (800) 950-6553.
Lost Money With Stockbroker Felipe Nery Arrieta?
Felipe Nery Arrieta has been involved in several disputes related to unauthorized trading, misrepresentation, and unsuitable investment recommendations:
- Pending Complaint (2023): A client alleges misrepresentation, negligence, unsuitability, and breach of fiduciary duty regarding a private placement investment, with $747,000 in total investment. The case is pending under FINRA Docket #22-02403.
- Settlement (2018): A customer filed a complaint in April 2017, alleging breach of fiduciary duty, breach of contract, and unauthorized trading. The case was settled for $90,000 (FINRA Docket #17-00866).
- Settlement (2007): Arrieta faced another dispute regarding unsuitability, unauthorized trading, and breach of fiduciary duty. The case, filed in 2006, was settled for $60,000 (NASD Arbitration #06-03360).
Allegations of Broker Misconduct Against Felipe Nery Arrieta
Felipe Nery Arrieta has faced the following allegations across various customer disputes:
- Unsuitability and Misrepresentation: Accusations related to recommending investments that were not suitable for clients’ financial profiles, including private placements and equities.
- Breach of Fiduciary Duty: Claims that Arrieta failed to act in the best interests of his clients by engaging in unauthorized trading and inappropriate use of margin.
- Negligence: Clients have alleged that Arrieta’s actions resulted in significant financial losses due to a lack of due diligence and proper risk assessment.
These actions suggest violations of FINRA Rule 2111, which requires brokers to ensure that investment recommendations are suitable based on the customer’s financial situation and objectives.
Broker Experience Summary
Felipe Nery Arrieta (CRD #4142123) is a financial advisor currently registered with Vestech Securities, Inc. in St. Louis, Missouri. Arrieta has worked in the financial services industry since 2000 and has been registered with several firms throughout his career, including Brookstone Securities, Inc., Milkie/Ferguson Investments, Inc., and National Securities Corporation. Over the years, he has passed several industry exams, such as the Series 7 – General Securities Representative Examination and the Series 63 – Uniform Securities Agent State Law Examination, qualifying him to offer a range of securities-related services.
Throughout his career, Arrieta has been registered in various U.S. states, including Missouri and Texas, and has advised clients on a broad range of financial products. Despite his extensive experience, his record includes several customer disputes related to allegations of unsuitable recommendations, negligence, and unauthorized trading.
Negative Disclosures and Customer Disputes
Felipe Nery Arrieta has faced multiple customer disputes, with some cases leading to settlements and others still pending:
- Pending Complaint (2023): A client alleges misrepresentation, negligence, unsuitability, and breach of fiduciary duty related to a private placement investment worth $747,000. The case is currently pending under FINRA Docket #22-02403.
- Settlement (2018): In April 2017, a customer filed a complaint alleging breach of fiduciary duty, breach of contract, and unauthorized trading. The case was settled for $90,000 (FINRA Docket #17-00866).
- Settlement (2007): Arrieta was involved in another dispute filed in 2006 regarding unsuitability, unauthorized trading, and breach of fiduciary duty, which was settled for $60,000 (NASD Arbitration #06-03360).
Allegations and Accusations
Felipe Nery Arrieta has been accused of the following in various disputes:
- Unsuitability and Misrepresentation: Several customers have alleged that Arrieta recommended investments, including private placements and equities, that were not suitable for their financial goals or risk tolerance.
- Breach of Fiduciary Duty: Arrieta has also been accused of failing to act in the best interests of his clients by engaging in unauthorized trading and improper use of margin accounts.
- Negligence: His actions have allegedly resulted in significant financial losses for clients due to a lack of proper risk assessment and due diligence.
These allegations suggest potential violations of FINRA Rule 2111, which requires brokers to make suitable recommendations based on the customer’s investment profile.
FINRA Rule 2111, the Suitability Rule, requires brokers to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer, based on the customer’s financial situation, needs, and investment profile. This rule covers the three key obligations: reasonable-basis suitability (the recommendation must be suitable for at least some investors), customer-specific suitability (the recommendation must be appropriate for that particular customer), and quantitative suitability (ensuring that the number of recommended transactions is not excessive). Related rules include FINRA Rule 2090, the Know Your Customer Rule, which mandates that brokers understand their clients’ investment profiles to provide suitable advice.
Patil Law P.C. Will Help You Recover Your Investment Losses
If you have suffered investment losses in an account handled by Felipe Nery Arrieta or have a question about the performance of your account, please contact Attorney Patil online or (800) 950-6553 for a free initial consultation.
Our cases are handled on a contingency basis. We don’t get paid unless we win for you.
