Investor Warning! DALE WRIGHT – Henrico, VA
Israels & Neuman, PLC Investigates Dale Wright of Henrico, Virginia
Have you lost money with financial advisor Dale E. Wright. (CRD# 1142615) of Henrico, Virginia? We are investigating allegations of former customers related to Dale Wright. Dale Wright’s CRD report, a public record maintained by FINRA, states that Wright has been the subject of four customer complaints and FINRA arbitration lawsuits.
Specifically, Dale Wright’s BrokerCheck report contains the following allegations:
- One former client alleged that Wright recommended that they purchase life insurance policies and then borrow against the cash value of the policy, causing $70,000 in damages, and the case settled for $50,000 (Cambridge Investment Research paid $42,500 and Wright paid $7,500);
- Another former client filed a case in March 2017, alleging violations of the Virginia Securities Act, breach of fiduciary duty, and negligence related to the purchase of life insurance policies;
- In February 2015, another client complained about Wright’s recommendation to purchase an allegedly unsuitable life insurance policy.
Dale E. Wright has been a registered representative of Cambridge Investment Research from November 2011 to the present. He works at a branch office in Henrico, Virginia, and he also works for a company called Equity Concepts.
Brokerage firms like Cambridge Investment Research have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Ann Arbor, Michigan; and Bellevue, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Virginia and throughout the Richmond area. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including, Cambridge Investment Research, and many others.
Click to view: Wright, Dale BrokerCheck 6.7.17
If you lost money with Dale Wright or Cambridge Investment Research, please Contact Us at 720-599-3505 or 206-795-5798 for a free evaluation of your case.