Richard Jackman: $400K Complaint Against Orange, CA Advisor

Crown Capital Securities financial advisor Richard Jackman (CRD# 2501641) has received multiple investor complaints, including one that recently reached a six-figure settlement. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Orange, California.

Mr. Jackman’s BrokerCheck report discloses two investor complaints. The most recent, filed in August 2022, alleges that as a representative of Crown Capital Securities, he recommended an unsuitable investment strategy, omitted material information, provided false and misleading information, and failed to conduct proper due diligence on investments including non-traded real estate investment trusts. The pending complaint alleges damages of $400,000.

An earlier investor complaint, filed in 2020, alleged that he misrepresented and recommended unsuitable and illiquid private placement investments. In 2021 the complaint reached a settlement of $300,000. 

In a statement included in the complaint’s disclosure, Mr. Jackman stated that his firm settled the complaint to avoid the expenses of litigation that the settlement released him from any claims arising from the allegations, and that he was not asked to contribute to the settlement. “I would not have contributed to the settlement if asked,” he concluded, “because the claims as to customer-specific suitability had no merit.”

According to the Financial Industry Regulatory Authority, Richard Jackman holds 28 years of securities industry experience. Based in Orange, California, he has been a broker and an investment advisor with Crown Capital Securities since 2014 and 2015, respectively. He has also been registered as an investment advisor with Secura Financial in Orange, California since 2007. His past registrations include JW Cole Financial (Orange, California; 2013-2014), Financial Advisers of America (Orange, California; 2012-2013), and LPL Financial (Orange, California; 1994-2012). His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; 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 is licensed in Arizona, California, Montana, Nevada, New Jersey, Oregon, South Carolina, Texas, and Washington. (Information current as of September 28, 2022.)

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