Ben Carmona: $200K Complaint Against Perch Wealth Advisor

San Juan, Capistrano financial advisor Ben Carmona (CRD# 5120428) allegedly violated industry rules, according to a recent six-figure investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker with Realta Equities, doing business as Perch Wealth.

Mr. Carmona’s BrokerCheck report discloses one investor complaint. Filed in March 2026, it alleges that as a representative of Emerson Equity, he breached contract, misrepresented and omitted material facts, breached his fiduciary duty, violated state and federal securities laws, acted negligently, and violated Regulation Best Interest in connection with a real estate investment. The pending complaint alleges damages of $200,000.

For reference, Rule 15l-1(a)(1) of the Securities and Exchange Act of 1934 states that advisors like Mr. Carmona must recommend only investments and strategies that are in their clients’ best interests. Also known as Regulation Best Interest, the Rule stipulates further that broker-dealer firms, as well as their representatives, must “act in the best interest of the retail customer at the time the recommendation is made, without placing the financial or other interest of the broker, dealer, or natural person who is an associated person of a broker or dealer making the recommendation ahead of the interest of the retail customer.” Representatives who fail to act in customers’ best interests may be held liable for damages in the event of losses.

According to the Financial Industry Regulatory Authority, Ben Carmona holds 19 years of securities industry experience. Based in San Juan, Capistrano, he has been registered as a broker with Realta Equities since March 2025, doing business as Perch Wealth. His past registrations include Arkadios Capital, Emerson Equity, WealthForge Securities, NexPoint Securities, Cantor Fitzgerald & Company, Realty Capital Securities, and Grubb & Ellis Securities. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; and the General Securities Principal Examination, or Series 24. He holds 30 state licenses. (Information current as of May 18, 2026.)

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