Jay McPherson: $500K Complaint Against Emerson Equity Advisor

San Mateo, California financial advisor Jay McPherson (CRD# 5918462) has received multiple investor complaints alleging that his conduct resulted in losses. Financial Industry Regulatory Authority records show that he is registered as a broker with Emerson Equity, having previously been registered with Great Point Capital.

Mr. McPherson’s BrokerCheck report discloses three investor complaints. The most recent, filed in October 2025, alleges that as a representative of Emerson Equity, he breached his fiduciary duty, violated Regulation Best Interest, acted negligently, committed fraud, and violated the Florida Securities and Investor Protection Act. The pending complaint alleges damages of at least $500,000.

A second investor complaint, filed in 2020, alleged that as a representative of Concorde Investment Services and Sandlapper Securities, he recommended unsuitable investments. The complaint evolved into an arbitration proceeding before a FINRA panel, which issued an award to the customer of $125,000.

A third investor complaint, also filed in 2020, alleged that as a Concorde Investment Services representative, he recommended an unsuitable investment, breached contract, acted negligently, and breached his fiduciary duty. In 2021 the complaint reached a settlement of $21,500.

According to the Financial Industry Regulatory Authority, Jay McPherson holds 13 years of securities industry experience. Based in San Mateo, California, he has been registered as a broker with Emerson Equity since 2021. His past registrations include Great Point Capital, Great Point Advisors, Sandlapper Wealth Management, Sandlapper Securities, Concorde Asset Management, Concorde Investment Services, Wells Fargo Advisors, and Merrill Lynch. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. He is licensed in Florida, Georgia, Illinois, Maryland, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, and Texas. Information current as of November 22, 2025.)

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