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Transparency with Diana B.: On the Brink of Bankruptcy

Regulatory disclosures from Justin Reckers’ personal life hurt his career and financial stability.

 

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Every FINRA-registered rep is required to publicly disclose on their BrokerCheck profile certain events, such as regulatory actions, client complaints and terminations. But the regulator also requires reps to disclose certain personal financial events, such as tax liens.

Advisor Justin Reckers has always been transparent on his U4 about his troubles, which included a short sale on a home by his former wife, an employment separation and tax liens. But despite the disclosures, those things hurt his career and brought him to the brink of bankruptcy. It all started with this short sale on his former home, something he really didn’t have anything to do with and had no control over.

In this episode, Diana Britton, managing editor at WealthManagement.com, speaks with Reckers, lead financial advisor at Fonte Financial Advisors and CEO of Wellspring Divorce Advisors in Carlsbad, Calif. Justin shares details about how his past affected his career in financial services but also how he has come back from those troubles.

Justin Reckers and kids

Justin Reckers with his kids

In this episode, you will learn:

  • The events that led up to Justin’s money problems;
  • How his two divorces affected his personal finances and business career;
  • The importance of taking your own advice;
  • How these events helped shape Justin’s work;
  • How he built up his current business from $12 million to nearly $100 million today;
  • And more.

Justin Reckers Pebble Beach

Justin Reckers and a buddy at Pebble Beach

Listen now to hear Justin's story and the lessons he has learned from his past experiences.

If you have a struggle and wish to share your experiences and help others in similar situations, please reach out to Diana at [email protected].

The Transparency with Diana B. podcast is available on Apple PodcastsAndroidStitcher, Spotify and wherever podcasts are found. 

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