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Brett Emmeluth: $100K Complaint Against Castle Pines LPL Advisor
LPL Financial representative Brett Emmeluth (CRD# 4707323) has received an investor complaint alleging six-figure damages. Financial Industry Regulatory Authority records show that he is based in Castle Pines, Colorado and has previously received an investor complaint that reached settlement.
Mr. Emmeluth’s BrokerCheck report discloses one pending investor complaint against him. Filed in March 2022, it alleges that as a representative of First Financial Equity Corporation, he recommended unsuitable investments in non-traded alternative products. The pending complaint alleges damages of $100,000.
An earlier complaint disclosed on Mr. Emmeluth’s BrokerCheck report was filed in 2016. This complaint alleged that as a representative of First Financial Equity Corporation, he failed to properly diversify the account, causing losses. The complaint reached a settlement of $3,733.68.
Failure to diversify, also referred to as over-concentration or concentration, denotes a broker’s failure to invest a customer’s portfolio among a variety of investments, market segments, and/or asset classes, . “A diversified portfolio,” FINRA states in its investor resources, “tends to be harder to achieve than simply following the mantra: don’t put all your investment eggs in one basket.” To avoid the risks of over-concentration, investors are advised to diversify their portfolios across and within major asset classes, rebalance their portfolios on a regular basis, educate themselves about the underlying investments in their mutual funds or exchange-traded fund holdings, and keep track of their investments’ liquidity.
According to the Financial Industry Regulatory Authority, Brett Emmeluth holds 18 years of securities industry experience. Based in Castle Pines, Colorado, he has been a representative of LPL Financial since March 2022. His past registrations include First Financial Equity Corporation (Greenwood Village, Colorado; 2009-2022), Merrill Lynch (Englewood, Colorado; 2006-2009), Morgan Stanley DW (Centennial, Colorado; 2004-2006), and NYLife Securities (New York, New York; 2003-2004). His credentials include the passage of six securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Arizona, Arkansas, California, Colorado, Florida, Georgia, Idaho, Iowa, Kentucky, Michigan, New Jersey, New York, North Carolina, Oklahoma, Tennessee, Washington, Wisconsin, and Wyoming. (Information current as of May 22, 2022.)
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