Christopher Phillips: Oil Investment Complaints Against RBC Broker

Stamford, Connecticut-based broker and investment adviser Christopher Phillips (CRD# 4761544) has received a pending investor complaint alleging his actions resulted in losses. According to records provided by the Financial Industry Regulatory Authority (FINRA), Phillips is currently registered with RBC Capital Markets.

Christopher Phillips’s FINRA-maintained BrokerCheck report lists a total of one denied investor complaint and one pending investor complaint against him.

The most recent investor complaint was filed in January 2021. It alleges that as a representative of RBC Capital Markets, Christopher Phillips implemented an unsuitable oil investment strategy in which his “personal connections with the CEO of one of their oil investments may have impaired his ability to provide impartial advice.” The complaint alleged damages of $180,213.94, but it was denied by the firm in March 2021.

A pending complaint filed in November 2020 alleges that as a representative of RBC Capital Markets, Christopher Phillips failed to diversify the account and made discretionary purchases of “single company stocks almost all in oil and gas or energy sectors” that were not suitable for the investor. The pending complaint alleges damages of $367,452.

According to Financial Industry Regulatory Authority records, Christopher Phillips holds 17 years of experience in the securities industry has been registered with RBC Capital Markets in Stamford, Connecticut since 2018. Before that he was registered with Merrill Lynch in Greenwich, Connecticut; American Express Financial Advisors in Norwalk, Connecticut; IDS Life Insurance Company in Minneapolis, Minnesota; and American Express Financial Advisors in Minneapolis, Minnesota. He has passed three securities industry qualifying examinations: the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He currently holds 26 state securities licenses, including: Arizona, Connecticut, Delaware, Florida, Massachusetts, Rhode Island, South Carolina, Vermont, and Virginia. (Information current as of July 14, 2021.)