Last Updated: June 2024 (Scottsdale, AZ)
Rick Shaw Investigation Summary
Here’s what you need to know about Scottsdale, AZ, stockbroker Rick Shaw:
- Name: Mr. Richard Glenn Shaw
- Current Employer: Lincoln Financial Advisors
- DBA: Richard G. Shaw
- Previous Firms: CIGNA Financial Advisors
- Function: Stock Broker/ Financial Advisor/Registered Investment Advisor
- Aliases: Rick Shaw
- Primary Location: Scottsdale, AZ
- CRD 1870018
- Can Rick Shaw be sued in FINRA arbitration: Yes
- Sanctioned by Regulator: Yes
- Highest Settlement: $496,926
- Pending Customer Dispute Seeks Damages of $1,500,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Rick Shaw As Your Stockbroker?
In 2/2024 2 customers of Lincoln Financial Advisors filed FINRA arbitrations alleging that Rick Shaw recommended an unsuitable Oil and Gas investment. Damages of $1.5 million are sought in one case and $25,000 in damages are sought in the other.
Six other customer cases were settled by customers of Rick Shaw. Those cases alleged unsuitable recommendations to invest in oil and gas and real estate investment trusts (REITs). Damages paid in the cases were $26,086, $200,000, $55,064, $496,926, $140,000 and $70,000.
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.
Allegations of Broker Misconduct Against Rick Shaw
Customers of Rick Shaw have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendations to invest in oil and gas investments and REITs
[LEARN MORE]: See this for more information on REITs and Other Alternative Investments
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
[LEARN MORE]: Our investigations of other Lincoln Financial Securities brokers
If you have suffered investment losses in an account handled by Rick Shaw, 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.