Javier Reyes: $15 Million Complaint Against Select Wealth Advisor

San Juan, Puerto Rico financial advisor Javier Reyes (CRD# 3014365) recently received an investor complaint alleging that his advice led to eight-figure damages. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that he is currently registered as an investment advisor with Arkadios Wealth Advisors, doing business as Select Wealth.

Mr. Reyes’ BrokerCheck report discloses one investor complaint. Filed in January 2024, it alleges that as a representative of Arkadios Wealth Advisors, he recommended an unsuitable insurance product. The pending complaint alleges damages of $15 million.

Select Wealth’s website includes a page describing Mr. Reyes as the firm’s co-founder and co-chief investment officer. “He has over 24 years of experience in the Financial Services and Insurance industries,” it states, and “multiple investments and insurance licenses including Series 7, 6, 66, 53, and 24 as well as the Life, Disability and Annuity Insurance License.” Elsewhere, the firm notes that it brings a family office approach to its work, offering clients with “tailored financial solutions and concierge service.” A page describing its approach to wealth management, meanwhile, lists services including risk analysis, investment consulting, and retirement planning. “We focus on understanding your goals and every aspect that affects your finances,” it states. “Our advisors are familiar with the legal and tax consequences of living in the U.S., P.R. or abroad. That’s how we start building a plan.”

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Javier Reyes holds 26 years of securities industry experience. Based in San Juan, Puerto Rico, he has been an investment advisor with Arkadios Wealth Advisors since 2018, doing business as Select Wealth. His registration history includes Harbor Light Investment Advisors, Ascendant Alternative Strategies, Pariter Wealth Management, Pariter Securities, Signator Investors, Washington Square Securities, and Jefferson Pilot Securities. His credentials include the passage of seven securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Municipal Securities Principal Examination, or Series 53; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Municipal Securities Representative Examination, or Series 52TO; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Puerto Rico and Texas. (Information current as of April 6, 2024.)

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