Did Marvel Wealth’s Matthew Lamb Recommend Unsuitable ETFs?

A recent investor complaint involving Melbourne, Florida financial advisor Matthew Lamb (CRD# 6040125) alleges damages of more than half a million dollars. Records maintained by the Financial Industry Regulatory Authority show that he is a broker and an investment advisor with LPL Financial, doing business as Marvel Wealth Management.

Mr. Lamb’s BrokerCheck report discloses one investor complaint. Filed in November 2022, it alleges that the recommendation of unsuitable investments in exchange-traded funds and “a certain note” between March 2021 and November 2022. The pending complaint alleges damages of $519,000.

In a comment on the pending complaint’s disclosure, Mr. Lamb pushed back against the claimant’s allegations, noting that he was “not personally named” in the matter and that he intends to assist LPL Financial in defending itself against the “false” claim. “When I recommended the investments in question, the customers and I discussed the investments in detail, and I explained both the risks and the benefits of the investment,” he wrote, continuing: “I also presented other investment options, which they declined. Following those discussions, the customers decided that the investments fit within their overall portfolio and were appropriate given their objectives and risk tolerance.”

According to the Financial Industry Regulatory Authority, Matthew Lamb holds 10 years of securities industry experience. Based in Melbourne, Florida, he has been a broker and an investment advisor with LPL Financial since 2012 and 2013, respectively. He does business as Marvel Financial Group. Having passed three securities industry qualifying exams, he is licensed in Arizona, California, Florida, Georgia, Hawaii, Louisiana, Massachusetts, Michigan, Minnesota, New Hampshire, New York, North Carolina, Ohio, Oregon, South Carolina, Texas, Virginia, and Washington. (Information current as of December 11, 2022.)

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