Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers, has formally opened an investigation into Richard Raymond Brown (CRD #2541545), a financial advisor based in Valley Village, CA, currently registered with Arete Wealth Advisors, LLC and Arete Wealth Management, LLC. If you entrusted him with your investments and suffered losses, it is vital to understand your rights, your options for recovery, and the real record behind your advisor’s name.
Our attorneys are former Wall Street defense lawyers who now exclusively advocate for investors. We rely on nearly a century of combined legal experience, proven insider knowledge, and relentless advocacy to empower individuals seeking recovery. Our firm has achieved a 98% success rate across hundreds of claims, handled more than $520 million in securities matters, and earned recognition in the top 2% of peer-reviewed firms and attorneys, including Martindale-Hubbell AV Preeminent and Super Lawyers distinctions. Every case is handled on a no recovery, no fee basis. If you lost funds or believe you were misled, call 1-888-885-7162 or visit our website for a free, confidential consultation with our attorneys now.
Who Is Richard Raymond Brown?
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Richard Raymond Brown is a registered stockbroker and financial advisor based in Valley Village, California. He is currently affiliated with Arete Wealth Advisors, LLC and Arete Wealth Management, LLC. Brown holds multiple securities licenses, including the Series 7 and Series 6, and has worked in the financial services industry since 1994. His prior affiliations include:
- Lincoln Financial Advisors Corporation (1997–2019)
- The Lincoln National Life Insurance Company (2001–2006)
- Cigna Financial Advisors, Inc. (1994–1998)
In addition to his advisory work, Brown has also been involved in insurance-related business activities and has served as a continuing education instructor through CPA Academy.
For independent verification or the latest licensing and disclosure information, visit FINRA’s BrokerCheck.
Formal Complaints and Red Flags: Brown’s Customer Dispute History
Although some financial professionals never face a customer complaint or arbitration claim, investors should pay close attention when allegations involve unsuitable recommendations, high-cost products, limited liquidity, or misleading disclosures. Below is a summary of the most significant publicly reported dispute events involving Richard Raymond Brown:
| Date | Nature of Complaint | Outcome |
|---|---|---|
| February 2010 (Case No. 11-00516, FINRA Arbitration) | Clients alleged Brown recommended investments through a private portfolio manager that were unsuitable because of high costs and illiquidity while he was affiliated with Lincoln Financial. The recommendations allegedly began in April 2007. | Settled in March 2012 for $2,250,000 |
| March 2026 (Pending) | A client alleges inappropriate sales practices involving premium-financed indexed universal life insurance policies sold in 2021 while Brown was at Arete Wealth Advisors. The allegations include misleading illustrations, misrepresentation of risk, and inadequate disclosure. | Claim is pending in arbitration and seeks $1,500,000 in damages |
These complaints raise serious concerns involving suitability, misrepresentation, and potential breach of fiduciary duty. Those issues directly implicate industry standards and FINRA rules, including:
- FINRA Rule 2111: Requires that recommendations be suitable based on a customer’s investment objectives, risk tolerance, financial circumstances, and liquidity needs.
- FINRA Rule 2020: Prohibits misleading statements, deceptive practices, and material omissions.
- FINRA Rule 2010: Requires brokers and advisors to observe high standards of commercial honor and just and equitable principles of trade.
Why These Complaints Matter
The $2.25 million settlement and the pending $1.5 million arbitration claim are substantial. Allegations involving high-cost, illiquid investments and complex premium-financed insurance products are particularly concerning because these products can expose investors to significant risk, limited exit options, and unexpected financial obligations. Investors often do not discover the extent of those risks until substantial losses or obligations have already occurred.
Our firm regularly represents investors who were sold unsuitable or overly complex investment and insurance products that may have jeopardized retirement savings and long-term financial security.
Regulatory and Legal Background Check: Richard Raymond Brown
We reviewed publicly available information concerning Richard Raymond Brown (CRD #2541545), including industry disclosure sources. Based on that review:
- Customer Complaints Reported to FINRA: No additional open or closed customer complaints were identified beyond the arbitration matters summarized above.
- Regulatory Actions: No publicly reported sanctions or disciplinary actions by FINRA, the SEC, or state securities regulators were identified.
- Civil Lawsuits: No publicly reported federal or state securities-related civil actions naming Brown as a defendant were identified.
- Negative Press or Investigative News: No publicly reported media coverage alleging fraud, widespread customer harm, or regulatory investigation was identified as of June 2024.
That said, disclosures and regulatory developments can change. Investors should review current BrokerCheck records and consult counsel for the most up-to-date information.
What If You Lost Money With Richard Brown in Valley Village, CA?
If you invested with Richard Raymond Brown through Arete Wealth Advisors, LLC, Arete Wealth Management, LLC, or any of his prior firms and experienced unexplained losses, poor account performance, or recommendations involving complex, illiquid, or premium-financed insurance products, you should act promptly. Many investors do not realize they may have a legal claim until after losses become severe. Securities and investment-related claims are time-sensitive, and delay can affect your ability to recover.
How Our Attorneys Can Help
We use our Wall Street defense background and investor-focused litigation experience to pursue recovery on behalf of harmed investors. Our attorneys review account statements, correspondence, product documentation, and sales materials to assess whether unsuitable recommendations, misrepresentations, omissions, or supervisory failures may have occurred. We represent clients in FINRA arbitration, mediation, and settlement negotiations.
With more than 95 years of combined experience, a 98% success rate, and over $520 million in securities matters handled, our firm is prepared to build the strongest possible case for recovery.
- Free, no-obligation consultation — call 1-888-885-7162 now
- No recovery, no fee — you pay nothing unless we recover money for you
- Detailed review of your account records, disclosures, and advisor communications
- Clear explanation of your legal rights and potential recovery options
Take Action: Speak With Our Team Today
If you were a client of Richard Raymond Brown, Arete Wealth Advisors, LLC, or Arete Wealth Management, LLC and suffered investment-related losses, do not wait to seek legal guidance. Our attorneys have represented hundreds of investors nationwide and are prepared to evaluate whether you may have a claim.
Contact us for a free consultation by calling 1-888-885-7162. Your consultation is confidential, carries no obligation, and may be the first step toward meaningful financial recovery. You deserve experienced guidance, strong advocacy, and a clear understanding of your options.
