David Arthur Hicks of Fort Pierce Florida a stockbroker formerly registered with H Beck Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $475,000.00 in damages supported by accusations that unsuitable real estate investment trust products and variable annuity products had been sold to the customer during the time that Hicks was associated with H Beck. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00326 (Feb. 8, 2020).
According to the claim, the customer’s investment portfolio had been overconcentrated by the stockbroker in speculative real estate investment trusts. The claim alleges that the customer was charged lofty commissions to invest through Hicks.
FINRA Public Disclosure reveals that Hicks has been referenced in two more customer initiated investment related disputes containing allegations of Hicks’s bad sales practices during the period in which he was employed by H Beck and Triad Advisors LLC. On October 2, 2018, a customer filed an investment related complaint involving Hicks’s conduct in which the customer requested $63,300.00 in damages founded on accusations that the customer was placed into inappropriate real estate investment trust products between 2010 and 2018 as these investments conflicted with the customer’s liquidity needs.
On June 28, 2019, another customer filed an investment related complaint concerning Hicks’s conduct where the customer sought $13,000.00 in damages based upon allegations of misrepresentations being made to the customer in regard to a real estate security.
Hicks was registered with H Beck Inc. between September 25, 1987 and August 18, 2016. He has been a stockbroker and investment adviser representative of Triad Advisors LLC since July 19, 2016.
