Carmen Morrone: $1mm DST Complaint Against Blue Ocean Advisor

Wantagh, New York financial advisor Carmen Morrone (CRD# 1898874) recently received an investor complaint alleging that his conduct resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Realta Equities, doing business as Blue Ocean Private Wealth.

Mr. Morrone’s BrokerCheck report discloses three investor complaints. The most recent, filed in January 2026, alleges that as a representative of Realta Equities, he failed to conduct adequate due diligence and provide adequate disclosures regarding a Delaware Statutory Trust investment. The pending complaint alleges damages of $1 million.

A second investor complaint, also filed in January 2026, similarly alleges that as a Realta Equities representative, he provided inadequate disclosures and failed to conduct due diligence regarding alternative investments. The pending complaint alleges damages of $561,303.24.

A third investor complaint, filed in 2003, alleged that as a representative of CIBC World Markets Corporation, he recommended an unsuitable variable annuity investment. The complaint alleged damages of $22,000 and was denied by the firm.

According to the Financial Industry Regulatory Authority, Carmen Morrone holds 29 years of securities industry experience. Based in Wantagh, New York, he has been registered as a broker with Realta Equities since 2022, doing business as Blue Ocean Private Wealth. His past registrations include B. Riley Wealth Management, National Securities Corporation, Muriel Siebert & Company, Investacorp, Prime Capital Services, Oppenheimer & Company, NYLife Securities, Ameriprise Advisor Services, Wachovia Securities, Royal Alliance Associates, CIBC World Markets, Dime Securities of New York, and Essex National Securities. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Delaware, the District of Columbia, Florida, Georgia, Hawaii, Maryland, New Jersey, New York, North Carolina, Pennsylvania, Texas, Utah, Vermont, and Virginia. (Information current as of February 1, 2026.)

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