Last Updated: July 2025 – New York, NY
Here’s what you need to know about New York, NY former stockbroker Richard Todd Tulloch:
- Name: Richard Todd Tulloch
- CRD Number: 5180553
- Aliases: Richard Culberg, Richard Todd Culberg
- Current Employer: Not currently registered with any FINRA-member firm
- Prior Employers: Avatar Securities, LLC; Wayne Hummer Investments L.L.C.; Chase Investment Services Corp.
- Function: Stockbroker / Financial Advisor
- Can Richard Tulloch be sued in FINRA arbitration? Yes
- Highest Settlement or Award: $75,000
If you’ve sustained damages from Mr. Tulloch, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Richard Tulloch (Culberg) As Your Stockbroker?
Richard Tulloch has been involved in three customer disputes alleging sales practice violations related to unsuitable investment recommendations in non-traded REITs and misrepresentation of client net worth.
- FINRA Case No. 20-02841: Filed on August 28, 2020, a customer of Wintrust Investments alleged that Tulloch inflated the client’s net worth to justify concentrated investments in non-traded REITs. The dispute was settled on November 3, 2021, for $22,500.
- FINRA Case No. 19-00833: Filed on March 28, 2019, customers of Wayne Hummer Investments alleged that Tulloch recommended large, unsuitable concentrations of illiquid REITs and falsified net worth disclosures. The claim was settled for $75,000 on January 21, 2020.
- FINRA Case No. 23-03108: Filed October 31, 2023, this arbitration filed by a customer of Wintrust Investments alleges Tulloch recommended the Northstar Healthcare Income REIT, an illiquid investment, and misrepresented it as safe and secure. The case was settled 11/2024 for $72,500.
More on REITs and Other Alternative Investments
The allegations in these disputes may involve violations of FINRA Rule 2111 (Suitability Rule), which requires brokers to have a reasonable basis for believing a recommended transaction or strategy is suitable for the customer’s investment profile, and FINRA Rule 2010, which requires adherence to high standards of commercial honor and equitable principles of trade.
Allegations of Broker Misconduct Against Richard Tulloch
- Inflating clients’ net worth to justify concentrated investments in risky, illiquid non-traded REITs
- Recommending unsuitable high-risk REITs inconsistent with client risk tolerance
- Misrepresenting the safety and returns of non-traded REITs
- Falsifying financial disclosures on purchase agreements
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Richard Todd Tulloch, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.