Rick Roberts: TCFG Advisor Lands 7-Figure Complaint

A recent investor complaint against Laguna Niguel, California financial advisor Rick Roberts (CRD# 2145874) alleges that he recommended unsuitable Delaware Statutory Trust (DST) investments. Financial Industry Regulatory Authority records show that he is registered as a broker with TCFG Wealth Management.

Mr. Robert’s BrokerCheck report discloses one investor complaint. Filed in March 2026, it alleges that as a representative of TCFG Wealth Management, he recommended over-concentrated positions in unsuitable DST investments, breached his fiduciary duty, acted negligently, committed fraud, breached contract, violated securities law, and committed fraud. The pending complaint alleges damages between $1 million and $5 million.

A second disclosure on his BrokerCheck report concerns an SEC enforcement action against him. Filed in 2021, it states that the SEC sanctioned him in connection with allegations that as the president, chief operating officer, and managing member of TCFG, he breached his fiduciary duty and committed fraud in connection with allegedly misleading disclosures regarding fees received by the firm. As a result of the SEC’s findings, he was ordered to pay a penalty of $287,752.97.

According to the Financial Industry Regulatory Authority, Rick Roberts holds 19 years of securities industry experience. Based in Laguna Niguel, California, he has been registered as a broker with TCFG Wealth Management since 2012. His past registrations includeCambridge Investment Research, Hartford Life Distributors, and USA Advanced Planners. His credentials include the passage of ten securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; the Municipal Securities Principal Examination, or Series 53; the Operations Professional Exam, or Series 99TO; the Municipal Securities Representative Examination, or Series 52TO; the General Securities Representative Examination, or Series 7TO; the Registered Options Principal Examination, or Series 4; the General Securities Principal Examination, or Series 24; the National Commodity Futures Examination, or Series 3; and the General Securities Representative Examination, or Series 7. He holds 33 state licenses. (Information current as of April 19, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.