Last Updated: January 2025 (Clermont, FL)
Robert DeChick Investigation Summary
Here’s what you need to know about Clermont, FL, stockbroker Robert Michael DeChick:
- Name: Robert Michael DeChick
- Current Employer: D.H. Hill Advisors, Inc.
- DBA: Deferred Sales Trust, Clermont, FL
- CRD Number: 4152582
- Function: Stockbroker / Registered Investment Advisor
- Primary Location: Clermont, FL
- Aliases: Robert DeChick
- Can Robert DeChick be sued in FINRA arbitration? Yes
- Sanctioned by Florida Securities Regulator: Yes
- Highest Settlement or Award: $190,000
If you’ve sustained damages from Mr. DeChick, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Robert DeChick As Your Stockbroker?
Mr. DeChick has been the subject of multiple customer disputes and a regulatory action. The most significant cases include:
- A $190,000 settlement in June 2024: This case alleged unsuitable recommendations and overconcentration in non-liquid investments, including equipment leasing and real estate securities, spanning a period from 2011 to 2023 (Case #23-01901).
- A $20,000 settlement in December 2024: This matter involved allegations of unsuitable recommendations and misrepresentation related to debt-asset-backed products (Case #24-02319).
- Regulatory Action in January 2016: The Florida Office of Financial Regulation found that Mr. DeChick provided consolidated account statements for real estate investment trusts (REITs) without the required disclosures. He was fined $5,000 and ordered to cease and desist from further violations.
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.
Allegations of Broker Misconduct Against Robert DeChick
Our Investigations of other D.H. Hill Securities brokers
Customers and regulators have alleged the following misconduct against Robert DeChick:
- Unsuitable Investment Recommendations:
Numerous customer disputes allege that Mr. DeChick recommended investments that did not align with his clients’ financial goals or risk tolerances. This constitutes a potential violation of FINRA Rule 2111 on suitability. - Overconcentration of Non-Liquid Investments:
Clients allege that Mr. DeChick improperly allocated a significant portion of their portfolios to illiquid investments like real estate securities and equipment leasing, leading to financial harm. - Failure to Disclose Material Risks:
A regulatory action in 2016 found that Mr. DeChick failed to include necessary disclosures in REIT account statements, violating NASD Rule 2340(c) and corresponding Florida statutes. - Negligence and Misrepresentation:
In settled disputes, clients have alleged that Mr. DeChick failed to accurately communicate the risks and features of investments, contributing to significant financial losses.
FINRA requires brokers to uphold high standards of conduct, including making suitable recommendations, disclosing material risks, and maintaining accurate records. Violations of these rules can result in sanctions, fines, and customer disputes.
See this for more information on REITs and Other Alternative Investments
Investigations involving Over-Concentration
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Robert Michael DeChick, 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.