Rich Gibson: Purshe Kaplan Advisor Faces $2 Million DST Complaint

A recent investor complaint against Long Beach, California financial advisor Rich Gibson (CRD# 5352063) alleges that he recommended unsuitable Delaware Statutory Trust investments. Financial Industry Regulatory Authority records show that he is registered as a broker with Purshe Kaplan Sterling and an investment advisor with Global View Capital Management.

Mr. Gibson’s BrokerCheck report discloses one investor complaint. Filed in June 2024, it alleges that as a representative of Purshe Kaplan Sterling, he acted negligently, misrepresented material facts, and recommended unsuitable Delaware Statutory Trust investments. The pending complaint alleges damages of $2.16 million.

In a statement included with the complaint’s disclosure, Mr. Gibson defends himself against the allegations, writing that the losses were the result of the global pandemic. “In the process of completing the paperwork and getting the transaction approved there were some corrections in the paperwork to make sure it was a suitable investment for them,” he states. “The corrections that were made had to be approved by the clients, initial and dated by them, which they did. At the time of the investments, we had never anticipated that shortly we would have a pandemic which would cause the world to close down. Unfortunately, all the colleges in the country closed which caused the Student Housing DST to have financial problems.”

Global View Capital Management’s website includes a profile of Mr. Gibson that describes his experience and approach to working with his clients. “Rich’s commitment to financial education and his passion to help others led him to join Global View Capital Advisors, where he can offer professional active money management to all investors,” it states. “Today, Rich’s approach to financial solutions is all inclusive, as he helps guide individuals and families toward their specific and unique retirement goals.”

According to the Financial Industry Regulatory Authority, Rich Gibson holds 16 years of securities industry experience. Based in Long Beach, California, he has been registered as a broker with Purshe Kaplan Sterling and an investment advisor with Global View Capital Management since 2014. His past registrations include The Strategic Financial Alliance, TransAmerica Financial Advisors, and World Group Securities. 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 Securities Industry Essentials Examination, or SIE; the Direct Participation Programs Representative Examination, or Series 22TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, Pennsylvania, Texas, and Virginia. (Information current as of July 14, 2024.)

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