Arif Ahmed: $204 Million Bond Complaint Against First Republic Advisor

Recent investor complaints against San Francisco financial advisor Arif Ahmed (CRD# 3099755) allege more than $200 million in damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with JP Morgan Securities, having previously been registered with First Republic.

Mr. Ahmed’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in February 2024, alleges that as a representative of First republic Securities, he recommended a corporate bond investment that resulted in losses. The pending complaint alleges damages of $35,026,590.

An earlier investor complaint, also filed in February 2024, similarly alleges that as a First Republic representative, he recommended a corporate bond investment that suffered losses. The pending complaint alleges damages of $204,694,278.

An earlier investor complaint, filed in 2012, alleged that as a Merrill Lynch representative, he recommended unsuitable investments. The complaint reached a settlement of $458,684.

A fourth investor complaint, filed in 2009, alleged that as a representative of Merrill Lynch, he misrepresented material facts, failed to follow instructions, and recommended unsuitable mutual funds. In 2010 the complaint reached a settlement of $85,000.

JP Morgan’s website includes a profile of Mr. Ahmed that describes him as a wealth manager at First Republic, which is now part of JP Morgan. “Mr. Ahmed and his team help clients with concentrated stock, estate planning strategies, cash flow modeling and family governance, as well as with endowments, foundations and family office services,” it states. “His team is responsible for reviewing investment policy statements, asset allocation, performance evaluation, risk management, manager selection and fiduciary oversight.”

According to the Financial Industry Regulatory Authority, Arif Ahmed holds 25 years of securities industry experience. Based in San Francisco, California, he has been registered as a broker and an investment advisor with JP Morgan since 2023 and 2019, respectively. His past registrations include First Republic Securities (Palo Alto, California; 2019-2023) and Merrill Lynch (Palo Alto, California; 1998-2019). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 35 state licenses. (Information current as of March 1, 2024.)

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