Grove Point Advisor Louis Nemeth Faces $50K Penny Stock Complaint

Bethlehem, Pennsylvania financial advisor Louis Nemeth (CRD# 1465420) recently received an investor complaint alleging his investment advice resulted in damages. Records provided by the Financial Industry Regulatory Authority indicate that he is a broker and an investment advisor with Grove Point Investments.

Mr. Nemeth’s BrokerCheck report discloses one investor complaint. Filed in February 2023, the complaint alleges that as a representative of Grove Point Investments, he executed an “unsuitable and unauthorized investment in a penny stock” in August 2022. For reference, FINRA rules forbid brokers from recommending investments and strategies that are not appropriate (or “suitable”) for a customer’s background and objectives. The pending complaint alleges damages of $50,000.

According to the Financial Industry Regulatory Authority, Louis Nemeth holds 36 years of securities industry experience. Based in Bethlehem, Pennsylvania, he has been a broker and an investment advisor with Grove Point Investments since 2013 and 2021, respectively. His registration history includes H. Beck (Rockville, Maryland; 2013-2021), TransAmerica Financial Advisors (Allentown, Pennsylvania; 1999-2009), Robinson & Robinson (Allentown, Pennsylvania; 1992-1999), and First Investors Corporation (Edison, New Jersey; 1986-1992). His credentials include the passage of six securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65.  He is licensed in Delaware, Florida, Maryland, Michigan, Mississippi, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, and Wisconsin. (Information current as of March 12, 2023.)

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