Chris Wright Involved in Suitability Dispute
Chris Wright (CRD# 4134973), a broker registered with Realta Equities and Wright Wealth Management, is embroiled in investor disputes seeking more than $500,000 in damages. MDF Law is currently investigating the Prescott, Arizona-based financial professional for similar conduct. Please reach out to our attorneys for a free consultation if you have concerns about your investments.
To learn more about Mr. Wright’s history as a broker, continue reading this post. The below information is sourced from his BrokerCheck profile, a Financial Industry Regulatory Authority record accessed on February 7, 2024.
Pending Disputes Seek 6-Figure Damages
In 2023 and 2024, two parties of investors filed disputes involving Mr. Wright that remain pending. These claims describe allegations of unsuitable investment recommendations, negligence, violation of industry rules, and breach of fiduciary duty. They seek cumulative damages between $150,000 and $550,000.
Past Disputes Concerned GWG L Bond, Annuity
The above-described pending disputes are not the only ones in Mr. Wright’s past. Between 2019 and 2022, three parties of investors lodged claims against him. These claims alleged that he misrepresented an investment in a GWG L bond, that he rolled over an annuity against a customer’s wishes, and that he failed to diversify a customer’s portfolios. His former member firms settled the allegations for a total of more than $83,000.
Chris Wright Denies Disputes
Mr. Wright issued a statement denying the allegations contained in a 2019 dispute alleging that he failed to diversify assets. “All of the investment recommendations – including the many profitable ones – that I made for the clients were suitable for them based on their investment profile and the information reasonably available at the time of the recommendations,” he asserted in the statement. He commented further that he disclosed the investments’ risks to the clients, concluding that the settlement was a business decision.
What Is Wright Wealth Management?
As his BrokerCheck profile reflects, Mr. Wright is a representative of Wright Wealth Management, a firm described by its webpage as “a premier Prescott AZ investment management firm serving Northern Arizona.” Its services include investment and financial planning as well as private wealth management services for high net-worth clients, according to the website. “We help our clients preserve and create wealth through active management strategies” Wright Wealth Management assures investors. “We are passionate about helping our clients achieve financial peace of mind and believe that everyone should be treated like family. Integrity, honesty, and friendliness define the platinum experience we strive to give all our members.”
FINRA: Wright Based in Prescott, Arizona
Chris Wright started working as a broker in 2000, when he joined H.D. Vest Investment Services’ office in Dallas, Texas. Over the subsequent years, he worked at firms including Multi-Financial Securities Corporation and Center Street Securities. He joined Realta Securities’ office in Prescott, Arizona in December 2023, and he remains there today. With 23 years of experience as a broker, he has completed six industry exams, including the Series 7 and the Series 26.
Investment Losses? MDF Law Can Help
If you lost money on unsuitable or over-concentrated investments recommended by Chris Wright, you might have recovery options. MDF Law’s seasoned attorneys have proven experience advocating for the victims of investment fraud. We have the expertise necessary to shepherd you through the complexities of the FINRA arbitration process. We also take cases on a contingency basis, meaning we only receive a fee when our clients collect a recovery. Call 800-767-8040 for a free consultation today.