Rich Tegge: $500K Complaint Against Wealth Strategy Group Advisor

Marquette, Michigan financial advisor Rich Tegge (CRD# 2948506) recently received an investor complaint alleging that he failed to act in a customer’s best interest. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with LPL Financial, doing business as Wealth Strategy Group.

Mr. Tegge’s BrokerCheck report discloses one investor complaint. Filed in June 2026, it alleges that as a representative of LPL Financial, he violated Regulation Best Interest in connection with investments in equities and mutual funds. The pending complaint alleges damages of $500,000.

Investors should be aware that Rule 15l-1(a)(1) of the Securities and Exchange Act of 1934, also known as Regulation Best Interest, requires advisors like Mr. Tegge to recommend only investments and strategies that are in their retail clients’ best interests. The rule states specifically that firms and 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.” This rule is similar to FINRA’s suitability rule, which requires brokers to recommend investments that are in line with their customers’ background and objectives. They must conduct reasonable diligence to determine whether the investment is suitable for some investors, whether it is suitable for the specific investor, and, in cases where the advisor exercises discretion over trading in a customer’s account, they must conduct reasonable diligence to determine that a series of transactions is not unsuitable or excessive.

According to the Financial Industry Regulatory Authority, Rich Tegge holds 28 years of securities industry experience. Based in Marquette, Michigan, he has been registered as a broker and an investment advisor with LPL Financial since 2020, doing business as Wealth Strategy Group. His registration history includes Commonwealth Financial Network, Citigroup Global Markets, and Edward Jones. 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 Sales Supervisor – General Module Examination, or Series 10; the General Securities Sales Supervisor – Options Module Examination, or Series 9; and the General Securities Representative Examination, or Series 7. He holds 25 state licenses. (Information current as of July 3, 2026.)

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