John McArthur: $1mm Complaint Against Krilogy Advisor

St. Louis, Missouri financial advisor John McArthur (CRD# 4389397) recently received an investor complaint alleging that his advice resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Saxony Securities and an investment advisor with Krilogy.

Mr. McArthur’s BrokerCheck report discloses one investor complaint. Filed in April 2026, it alleges that as a representative of Krilogy, he misrepresented and recommended unsuitable private securities. The pending complaint alleges damages of $1 million.

In a statement included with the complaint’s disclosure, Mr. McArthur defends himself against the allegations. “Customer’s complaint does not name representative as a party or respondent,” the statement reads, “and the representative denies all allegations and intends to assist in the brokerage’s vigorous defense against the same.”

FINRA rules prohibit brokers from making investment recommendations that are considered unsuitable for an investor. Unsuitable investments and strategies are understood as those not based in a “firm understanding of both the product and the customer,” as described by FINRA Rule 2111. This rule stipulates that brokers must conduct “reasonable diligence” to ascertain whether investments are suitable for a customer’s background and objectives. They must ensure that the recommendation is suitable for some investors; that it is suitable for the individual customer to which they are making it; and that, if they are recommending a series of transactions to a customer over whose account they have actual or de facto control, the transactions are suitable when taken together as well as when viewed in isolation. Brokers who make unsuitable investment recommendations may be liable to their clients in the event of losses.

According to the Financial Industry Regulatory Authority, John McArthur holds 24 years of securities industry experience. Based in St. Louis, Missouri, he has been registered as a broker with Saxony Securities since 2014 and an investment advisor with Krilogy since 2012. His past registrations include Purshe Kaplan Sterling, Morgan Stanley, and AG Edwards & Sons. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Futures Managed Funds Examination, or Series 31; and the General Securities Representative Examination, or Series 7. He is licensed in Florida, Illinois, Missouri, and Texas. (Information current as of May 23, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.