Investors have reportedly disputed the sales practices of securities broker Richard James Roberts (also known as Rick Roberts) [CRD: 2145874, Laguna Niguel, California], based on publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Richard Roberts has worked for TCFG Wealth Management LLC since December 11, 2012. Read on to find out more about disclosures involving Richard Roberts and allegations reflected in FINRA BrokerCheck records.
TCFG Wealth Management Investor Accused Rick Roberts Of Overconcentration, Breach Of Contract, And Unsuitable Advice
Specifically, on March 11, 2026, a TCFG Wealth Management LLC client filed FINRA Arbitration No. 26-00475 about Richard Roberts. Mainly, the client alleged that a former securities broker recommended overconcentrated and unsuitable Delaware Statutory Trusts intended to provide tax advantages following the sale of real estate property. The client additionally asserted claims involving breach of fiduciary duty, negligence, negligent supervision, breach of contract, violations of the Securities Exchange Act, and violations of the Florida Securities and Investor Protection Act. As to Roberts, the client asserted a Securities Exchange Act claim based on allegations that he acted as a control person of the firm. For this reason, the client allegedly suffered damages on Delaware Statutory Trusts. Consequently, the client requested between $1,000,000 and $5,000,000 in compensation from TCFG Wealth Management LLC or Roberts. BrokerCheck indicates that this arbitration remains pending a resolution.
Richard Roberts Sanctioned By SEC For Breach Of Fiduciary Duty, Omissions
Also, the United States Securities and Exchange Commission issued Case: 8:21-cv-01615 on July 19, 2023 sanctioning Richard Roberts. Allegedly, Roberts and TCFG Investment Advisor LLC made misleading disclosures concerning advisory fee markups charged to clients, failed to adequately disclose conflicts of interest, and breached fiduciary duties owed to advisory clients. Regulators also alleged that Roberts aided and abetted violations involving compliance procedures and disclosure obligations under Sections 206(2) and 206(4) of the Investment Advisers Act and Rule 206(4)-7. According to the SEC, Roberts allegedly directed the clearing and custody firm to charge additional fee markups, and the marked-up portion was allegedly passed on to clients approximately 60 percent of the time between about January 2014 and April 2020. As a result, Roberts was permanently enjoined from certain securities law violations and ordered to pay a $100,000 civil penalty.
Did You Sustain Losses Because Of Financial Advisor / Securities Broker Rick Roberts?
Do you have questions or concerns regarding investments you made with Richard Roberts? You can contact Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about a potential recovery of your investment losses. Soreide Law Group has recovered losses for clients throughout the country. Also, our securities lawyers represent investors on a contingency fee basis and advance all costs. Roberts and brokerage firms Roberts worked for deny the allegations of sales practice violations.
