Marlo Carpio: US Bancorp Advisor Lands $2.1mm Complaint

Twin Lakes, Wisconsin financial advisor Marlo Carpio (CRD# 3161657) recently received an investor complaint alleging that he violated industry rules, resulting in seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with US Bancorp Advisors.

Mr. Carpio’s BrokerCheck report discloses one investor complaint. Filed in August 2026, it alleges that as a representative of US Bancorp Advisors, he breached his fiduciary duty, violated Regulation Best Interest, and violated FINRA Rules 2010, 2120, and 3110, and breached contract. The pending complaint alleges damages of $2.1 million.

For reference, FINRA Rule 2010 requires brokers like Mr. Carpio to “observe high standards of commercial honor and just and equitable principles of trade.” FINRA Rule 2120, meanwhile, concerns the use of commissions, mark-ups, and charges. Finally, FINRA Rule 3110 requires firms to “establish and maintain a system to supervise the activities of each associated person that is reasonably designed to achieve compliance with applicable securities laws and regulations, and applicable FINRA rules,” including Regulation Best Interest.

According to the Financial Industry Regulatory Authority, Marlo Carpio holds 27 years of securities industry experience. Based in Twin Lakes, Wisconsin, he has been registered as a broker and an investment advisor with US Bancorp Advisors since 2026. His past registrations include MetLife Securities, Metropolitan Life Insurance, Northwestern Mutual Investment, and Robert W. Baird. His credentials include the passage of five 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; the Uniform Combined State Law Examination, or Series 66; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 15 state licenses. (Information current as of September 7, 2026.)

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