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Aubrey Morrow: Financial Designs Advisor Faces $100K-$500K Complaint
San Diego financial advisor Aubrey Morrow (CRD# 836500) allegedly recommended unsuitable investments, according to recent investor complaints. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Concorde Investment Services, doing business as Financial Designs.
Mr. Morrow’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in alleges that as a representative of Independent Financial Group, he recommended unsuitable oil and gas investments in 2012. The pending complaint alleges unspecified damages believed to exceed $5,000.
A second investor complaint, filed in 2020, alleges that as an Independent Financial Group representative, he recommended unsuitable and high-risk investments in real estate investment trusts and non-traded real estate investment trusts. The pending complaint alleges damages between $100,000 and $500,000.
A third investor complaint, filed in 2015, alleged that he recommended an unsuitable tenant-in-common investment, breached his fiduciary duty, committed fraud, breached contract, violated the California Securities Act, and sold unregistered securities. In 2016 the complaint reached a settlement of $100,000.
A fourth investor complaint, filed in 2012, alleged that he made unsuitable transactions, misrepresented and omitted material facts, breached his fiduciary duty, and breached contract in connection with TIC investments. In 2014 the complaint reached a settlement of $380,000.
A fifth investor complaint, alleged in 2011, alleged that he misrepresented material facts, acted negligently, violated California law, and breached his fiduciary duty in connection with TIC investments. In 2013 the complaint reached a settlement of $250,000.
According to the Financial Industry Regulatory Authority, Aubrey Morrow holds 46 years of securities industry experience. Based in San Diego, California, he has been a broker and an investment advisor with Concorde Investment Services since 2018, doing business as Financial Designs. His past registrations include Independent Financial Group, QA3 Financial Corporation, Mutual Service Corporation, Titan/Value Equities Group, Dunham and Associates Investment Counsel, Financial Network Investment Corporation, Values Equities Corporation, Briarwood Securities Corporation, Private Ledger Financial Services, and CG Equity Sales Company. His credentials include the passage of six securities industry qualifying exams: the Registered Representative Examination, or Series 1; the Non-Member General Securities Examination, or Series 2; the Securities Industry Essentials Examination, or SIE; the Direct Participation Programs Representative Examination, or Series 22TO; the Investment Company Products/Variable Contracts Representative Examination, or Series 6TO; and the Uniform Securities Agent State Law Examination or Series 63. He is licensed in Arizona, California, Colorado, Florida, Idaho, Maine, Maryland, Michigan, Mississippi, Nevada, North Carolina, Virginia, Washington, and Wyoming. (Information current as of September 13, 2023.)
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