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Read MoreJosh Chapin: Breakwater Advisor Lands Fraud Complaint
A recent investor complaint against Irvine, California financial advisor Josh Chapin (CRD# 5825638) alleges that he committed fraud and violated federal securities law. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Emerson Equity, doing business as Breakwater Capital.
Mr. Chapin’s BrokerCheck report discloses two investor complaints. The most recent, filed in September 2025, alleges that as a representative of Emerson Equity, he violated federal securities law, breached contract, violated the California Securities Act, committed fraud, breached his fiduciary duty, and acted negligently. The pending complaint alleges unspecified damages.
A second investor complaint, also filed in September 2025, similarly alleges that as an Emerson Equity representative, he acted negligently and breached his fiduciary duty in connection with a real estate investment. The pending complaint alleges unspecified damages.
Breakwater Capital’s website includes a profile of Mr. Chapin that describes his experience and services as the firm’s president. As it explains, he specializes in “unique investments and tax planning concepts most investors are unaware of, or do not have traditional access to..” His clientele includes small business owners as well as high-net worth individuals, and he has completed hundreds of seminars on “high level investment concepts.”
According to the Financial Industry Regulatory Authority, Josh Chapin holds 14 years of securities industry experience. Based in Irvine, California, he has been registered as a broker and an investment advisor with Emerson Equity since 2015, doing business as Breakwater Capital. His past registrations include Parkland Securities, Prudential Financial Planning, Pruco Securities, and NYLife Securities. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He holds 17 state licenses. (Information current as of November 10, 2025.)
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