Patrick Lam: Sherer Group Advisor Faces $1mm-$5mm Complaint

A recent investor complaint against Scottsdale, Arizona financial advisor Patrick Lam (CRD# 4723020) alleges that his conduct resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Emerson Equity, doing business as Sherer Group.

Mr. Lam’s BrokerCheck report discloses one investor complaint. Filed in August 2025, it alleges that as a representative of Emerson Equity, he breached contract and warranties, engaged in promissory estoppel, violated consumer protection and deceptive trade practices law, failed to abide by securities law, breached his fiduciary duty, and violated the SEC’s Regulation Best Interest. The pending complaint alleges damages between $1 million and $5 million.

A second disclosure on his BrokerCheck report concerns his termination from Lincoln Financial Distributors. Filed in 2011, it states that the firm fired him in connection with allegations that he “altered the owner information and admitted signing a company officer’s signature without authorization.”

According to the Financial Industry Regulatory Authority, Patrick Lam holds 20 years of securities industry experience. Based in Scottsdale, Arizona, he has been broker with Emerson Equity since 2019, doing business as Sherer Group. His registration history includes Sandlapper Securities, JP Morgan Institutional Investments, Griffin Capital Securities, Nationwide Investment Services Corporation, Ascent Real Estate Securities, Lincoln Financial Distributors, SunAmerica Capital Services, MetLife Investors Distribution Company, and WM Financial Services. His credentials include the passage of three securities industry qualifying exams: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He holds 26 state licenses. (Information current as of September 15, 2025.)

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