Joseph Richard Hinke of Richland Center Wisconsin is a stockbroker formerly registered with Edward Jones who was fired on August 25 2016 based upon accusations that he solicited and ultimately effected orders in a customer’s investment account after having been apprised that the customer had dementia.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Hinke is referenced in four customer initiated investment related disputes that pertain to allegations of his wrongdoing while employed with Edward Jones. Specifically, on July 23, 2008, a customer filed an investment related written complaint involving Hinke’s conduct, in which the customer requested $5,000.00 in damages founded on accusations that the customer was led to believe that a variable annuity investment contained principal protections.
Thereafter, a customer initiated investment related arbitration claim involving Hinke’s conduct was settled for $35,000.00 in damages based upon allegations including suitability, fraud, misrepresentation, breach of fiduciary duty, breach of contract, violation of the Securities Act of the State of Wisconsin, excessive fees, and failure to supervise recommendations made to the customer concerning variable annuities, debentures, bonds and corporate notes investments. FINRA Arbitration No. 09-05440 (Aug. 6, 2010).
Subsequently, on August 19, 2011, a customer initiated investment related written complaint involving Hinke’s conduct was settled for $10,000.00 in damages supported by accusations that the customer was not informed that the bonds purchased by the customer contained thirty-five year maturities, wherein the customer would not be able to liquidate the investment until the customer was one hundred ten years of age. Moreover, Hinke is the subject of a customer initiated investment related written complaint on November 10, 2016, in which the customer sought $217,450.00 in damages founded on allegations that Hinke poorly advised the customer about investing in equities.
Following Hinke’s termination from Edward Jones, he was associated with IFS Securities between October 31, 2016 and December 2, 2016.
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