Richard Pittman, Cetera Advisors, Customer Disputes Total $1M

Richard Lynn Pittman (CRD#: 2845145) is a registered broker and investment advisor currently employed with Cetera Advisors LLC (CRD#: 10299) of Memphis, TN. His previous employers include Investors Capital Corp. (CRD#:30613), also of Memphis, Washington Square Securities, Inc. (CRD#:2882) of Des Moines, IA, and WMA Securities, Inc. (CRD#:32625) of Duluth, GA. He has been in the industry since 1997.

Richard Pittman has three disclosures, all recent customer disputes. The most recent dispute, filed on 10/31/2018, alleges that Pittman made unsuitable recommendations on investments that were purchased in 2008. Damages requested total $300,000. Pittman denies the allegations, and the case is currently pending.

The next disclosure with identical unsuitability allegations from 2008 was filed on 8/9/2018, and requests damages of $736,000. Pittman again denies the allegations, and this case is also pending.

His only previous dispute was filed on 10/19/2016, and again, the client alleges that investments purchased in 2008 were also unsuitable. The client requested damages of $200,000. However, this case settled for $75,000. Pittman denied the allegations, and states that the settlement was a “business decision” by the board of directors.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.