Fred Chen: $100K Complaint Against Emerson Equity Advisor

Irvine, California financial advisor Fred Chen (CRD# 5766069) allegedly recommended unsuitable investments and engaged in other violations of FINRA rules, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Emerson Equity, having previously been registered with Arque Capital.

Mr. Chen’s BrokerCheck report discloses one investor complaint. Filed in December 2022, it alleges that as a representative of Emerson Equity, he acted negligently, violated Regulation Best Interest, made misrepresentations and omissions of material facts, recommended an unsuitable corporate bond investment, breached his fiduciary duty, breached contract, committed fraud, and violated FINRA Rules 2010, 2020, 2110, 2111, 2114, 2310, 3010, and 3110. (For reference, these rules concern the recommendation of unsuitable investments, the requirement that brokers follow high standards of commercial honor, recommendations relating to equity securities, underwriting of direct participation programs, and more.) The pending complaint alleges damages of $100,000.

According to the Financial Industry Regulatory Authority, Fred Chen holds six years of securities industry experience. Based in Irvine, California, he has been a broker and an investment advisor with Emerson Equity since 2010. His registration history includes Arque Capital (Irvine, California; 2018-2020), LPL Financial (Whittier, California; 2017-2018), and UnionBanc Investment Services (Irvine, California; 2013-2014). His credentials include the passage of five securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He is licensed in California. (Information current as of March 18, 2023.)

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