Ben Schick: Cobalt Advisor Faces $900K iCap

Lake Mary, Florida financial advisor Ben Schick (CRD# 4897243) recently received an investor complaint alleging that he misrepresented and recommended unsuitable investments in iCap. Financial Industry Regulatory Authority records show that he is registered as a broker with Cobalt Capital.

Mr. Schick’s BrokerCheck report discloses one investor complaint. Filed in March 2025, it alleges that as a representative of Cobalt Capital, he recommended unsuitable and high-risk investments in iCap, misrepresented the risks associated with the alternative investment, ignored the potential for over-concentration, acted negligently, breached his fiduciary duty, and persuaded the almost 70-year-old claimant to invest further in the products “without proper disclosures or due diligence.” The pending complaint alleges damages of $900,000.

In a statement included with the complaint’s disclosure, Mr. Schick defended himself against the allegations, and wrote that the claimant invested less than the sum of the damages asserted. “As an existing client, the Claimant has consistently affirmed her status as an accredited investor through signed iCap investment documents—such as subscription agreements—as well as in connection with prior, unrelated investment offerings,” he explains. “Notably, the Respondent is also an investor in iCap products and was similarly blindsided by the events that unfolded.”

Cobalt Capital’s website includes a profile of Mr. Schick that describes his background and approach as the firm’s founder and president. “His primary role involves cultivating and maintaining partnerships/relationships with Sponsors, financial advisors and private companies who want to grow and innovate their businesses,” it explains. “His experience in the industry has led him to use an ‘approachable style’ of business.”

According to the Financial Industry Regulatory Authority, Ben Schick holds 19 years of securities industry experience. Based in Lake Mary, Florida, he has been registered as a broker with Cobalt Capital since 2005. His credentials include the passage of four securities industry qualifying exams: the Direct Participation Programs Principal Examination, or Series 39; the Securities Industry Essentials Examination, or SIE; the Direct Participation Programs Representative Examination, or Series 22; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 21 state licenses. (Information current as of April 19, 2025.)

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