Brian Lombardi: $99K Complaint Against Ex-Aegis Advisor

Irvine, California financial advisor Brian Lombardi (CRD# 4227216) recently received an investor complaint alleging that he recommended an unsuitable product. Financial Industry Regulatory Authority records show that he is registered as a broker with Boustead Securities and an investment advisor with Sutter Securities, having previously been registered with Aegis Capital.

Mr. Lombardi’s BrokerCheck report discloses one investor complaint. Filed in August 2025, it alleges that as a representative of Aegis Capital, he recommended an unsuitable alternative investment. The pending complaint alleges damages of $99,500. The disclosure includes a statement from Mr. Lombardi in which he defends himself against the claim. “The complaint stems from activity that took place in 2017,” he explains. “I deny all allegations and intend on seeking a judicious resolution.”

The Financial Industry Regulatory Authority maintains numerous rules and standards that brokers must follow. One such rule is the suitability rule, which holds that brokers must “have a reasonable basis to believe” their investment recommendations are appropriate for their customers. As outlined in FINRA Rule 2111, and later Regulation Best Interest, brokers determine an investment’s suitability by evaluating “information obtained through reasonable diligence of the firm or associated person to ascertain the customer’s investment profile.” An investor’s profile includes such information as their age, income, net worth, and risk tolerance. The recommendation of unsuitable investments can lead to potentially significant losses for the customer.

According to the Financial Industry Regulatory Authority, Brian Lombardi holds 25 years of securities industry experience. Based in Irvine, California, he has been registered as a broker with Boustead Securities and an investment advisor with Sutter Securities since 2023. His past registrations include I-Bankers Direct (2019-2023), Aegis Capital Corporation (2014-2019), IAA Financial (2009-2015), Gunnallen Financial (2004-2009 and 2002-2003), LH Ross & Company (2004), Continental Broker-Dealer Corporation (2003-2004), Kimberly Securities (2002), Seaboard Securities (2001-2002), and Morgan Wilshire Securities (2000-2001). His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 46 state licenses. (Information current as of November 10, 2025.)

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