Doug Zator: Emerson Advisor Lands 6-Figure Complaint

Newport Beach, California financial advisor Doug Zator (CRD# 6321246) allegedly breached his fiduciary duty, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Emerson Equity.

Mr. Zator’s BrokerCheck report discloses one investor complaint. Filed in October 2025, it alleges that as a representative of Emerson Equity, he breached contact and warranties, violated Regulation Best Interest, committed promissory estoppel, violated securities statutes as well as the Consumer Protection and Deceptive Trade Practices Act, and breached his fiduciary duty. The pending complaint alleges damages between $100,000 and $500,000.

For reference, the fiduciary standard stipulates that financial advisors must place their clients’ interests above their own, make full disclosures regarding any conflicts of interest, and operate in good faith and with loyalty to the customer. This is similar to but distinct from the suitability standard that requires brokers to recommend only investments that are appropriate for their client’s background and objectives.

The website for Irvine Advisors, which offers securities through Emerson Equity, features a profile of Mr. Zator that describes his experience and services at the firm. As it explains, he specializes in the “Alternative Investment space” and serves as part of Emerson’s due diligence team, where he supervises more than a dozen investment representatives. “His experience encompasses direct real estate, 1031 exchange, DSTs, TICs, real estate funds, energy funds, life settlements, estate planning, hedge funds, direct private placements, private debt and private equity, among others,” the profile states.

According to the Financial Industry Regulatory Authority, Doug Zator holds 11 years of securities industry experience. Based in Newport Beach, California, he has been registered as a broker and an investment advisor with Emerson Equity since 2023. His past registrations include Arkadios Capital, Great Point Advisors, Great Point Capital, Cantor Fitzgerald, JP Morgan, Merrill Lynch, and MetLife Securities. His credentials include the passage of six 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; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; and the General Securities Principal Examination, or Series 24. He is licensed in California, Florida, Illinois, Minnesota, Oregon, Texas, and Washington. (Information current as of November 23, 2025.)

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