The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Gregory Ricker. According to his publicly available FINRA BrokerCheck report, Gregory Ricker has been the subject of multiple customer disputes.

Gregory Ricker was a Florida based securities broker. He worked in the securities industry for twenty-five years. During his career, he was registered with eight different securities firms. He is not presently working as a registered securities broker in any fashion.

His Registrations

  • Mony Securities (1992-1993)
  • A.G. Edwards & Sons (1993-1999)
  • Prudential Securities (1999-2001)
  • UBS Financial Services (2001-2004)
  • Wachovia Securities (2004-2008)
  • Jesup & Lamont Securities (2008-2009)
  • National Securities Corporation (2009-2012)
  • Westpark Capital (2013-2019)

The Allegations

  • In March 2009, a customer alleged that Gregory Ricker excessively traded their account and executed unauthorized trades. This case was settled for $31,079 in damages.
  • In August 2009, a customer alleged that Gregory Ricker churned their account, executed trades without their authorization, and invested them in highly unsuitable options strategies. This case was settled for $70,000 in damages.
  • In March 2019, a customer alleged that Gregory Ricker breached his fiduciary duty. This case is presently pending. The customer is seeking $860,000 in damages.
  • In July 2019, a customer alleged that Gregory Ricker churned their account and recommended unsuitable investments. This case was settled for $22,500 in damages.

Breach of Fiduciary Duty

The only way that the relationship between securities brokers and investors can even exist is because of trust. Investors are able to leave their money with another individual because they trust that it will be taken care of. The reason this trust exists is because investors know that brokers are bound by their duty to always act in their customer’s best financial interests. This duty is also known as their fiduciary duty. Brokers who breach this duty destroy that trust. Without that trust there can be no relationship between the two parties and the system will collapse.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Gregory Ricker, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.