Gene Theobald: RBC Advisor Faces Misrepresentation Complaint

A recent investor complaint against Houston financial advisor Gene Theobald (CRD# 1235214) alleges misconduct relating to risky investments. Financial Industry Regulatory Authority records indicate that he is currently a broker and an investment advisor with RBC Capital Markets, having previously been registered with Morgan Stanley.

Mr. Theobald’s BrokerCheck report discloses one investor complaint. Filed in March 2023, it alleges that as a representative of RBC Capital Markets, he “misrepresented high-risk investments beginning in May 2021” and breached his fiduciary duty to act in the customers’ best interests. The pending complaint alleges unspecified damages.

According to the Financial Industry Regulatory Authority, Gene Theobald holds 38 years of securities industry experience. Based in Houston, Texas, he has been a broker a broker and an investment advisor with RBC Capital Markets since 2012 and 2017, respectively. His past registrations include Morgan Stanley Smith Barney (Houston, Texas; 2009-2012), Morgan Stanley & Company (Houston, Texas; 2007-2009), Morgan Stanley DW (Houston, Texas; 2006-2007), Wachovia Securities (Houston, Texas; 2001-2006), First Southwest Company (Dallas, Texas; 1996-2001), Masterson Moreland Sauer Whisman (1993-1996), Smith Barney Shearson (New York, New York; 1993), Lehman Brothers (New York, New York; 1991-1993), Kemper Securities Group (St. Louis, Missouri; 1990-1991), Lovett Underwood Neuhas & Webb (1989-1990), Underwood Neuhas & Company (Houston, Texas; 1985-1989), Swink & Company (1984-1985), and Park Ryan (1984). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, Colorado, Delaware, Florida, Georgia, Kansas, Montana, New Mexico, New York, Pennsylvania, Tennessee, Texas, and Washington. (Information current as of April 30, 2023.)

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