Richard Benn McFarland Jr. of Wyomissing, Pennsylvania, a stockbroker registered with NPB Financial Group LLC and Independent Financial Group LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $1,521,706.00 in damages based upon allegations that McFarland recommended illiquid and risky non-traded business development companies (BDCs), real estate investment trusts (REITs) and other alternative investments when McFarland was associated with Independent Financial Group LLC and NPB Financial Group LLC. FINRA Arbitration No. 23-01911 (November 10, 2023).
FINRA Public Disclosure shows that McFarland is referenced in four other customer initiated investment related disputes concerning McFarland’s conduct while associated with securities broker dealers. A customer initiated investment related FINRA securities arbitration claim involving McFarland’s conduct was settled for $70,000.00 in damages based upon allegations that McFarland breached his fiduciary duties and committed securities fraud in connection with the sale of mutual funds and life insurance products during the time that McFarland was associated with Equity Engineering Inc. FINRA Arbitration No. 74-136-01516-92.
Another FINRA securities arbitration claim involving McFarland’s conduct was settled for $44,000.00 in damages based upon allegations that McFarland misrepresented material facts in connection with the sale of direct investments when McFarland was associated with Independent Financial Group LLC. FINRA Arbitration No. 96-01109. The claim also alleged that the firm failed to supervise McFarland’s activities.
McFarland was also referenced in a customer complaint that was settled on August 12, 2009, in which the customer received $9,975.00 in damages based upon allegations that McFarland was negligent in carrying out a financial plan during the time that McFarland was associated with NPB Financial Group LLC.
McFarland was associated with Independent Financial Group LLC in Wyomissing, Pennsylvania from July 15, 2022, to January 3, 2023. McFarland was associated with NPB Financial Group LLC in Laguna Woods, California from May 17, 2006, to July 15, 2022.
