RBC Advisor Martin Klein: Complaints Allege $34 Million Losses

Pending investor complaints against Newport Beach financial advisor Martin Klein (CRD# 1778613) allege that his investment advice resulted in damages of more than $30 million. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with RBC Capital Markets.

Mr. Klein’s BrokerCheck report discloses two recent investor complaints. The most recent, filed in October 2022, alleges that as a representative of RBC Capital Markets, he unsuitably recommended investments in government agency bonds between December 2020 and November 2021, and further that misinformed the investors of “of their potential risk related to rising interest rates.” The pending complaint alleges damages of $10 million.

A second investor complaint, also filed in October 2022, similarly alleges that he recommended unsuitable government agency bond investments and provided misinformation regarding the risks stemming from rising interest rates. The pending complaint alleges damages of $24 million.

According to the Financial Industry Regulatory Authority, Martin Klein holds 35 years of securities industry experience. Based in Newport Beach, California, he has been a broker and an investment advisor with RBC Capital Markets since 2014. His registration history includes JP Morgan Securities (Newport Beach, California; 2007-2014), Morgan Stanley & Company (Newport Beach, California; 2007), Morgan Stanley DW (Newport Beach, California; 2000-2007), and Prudential Securities (New York, New York; 1987-2000). His credentials include the passage of five securities industry qualifying examinations: the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; 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 holds 37 state licenses. (Information current as of January 29, 2023.)

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