Churning a brokerage account refers to the excessive buying and selling of securities by a broker for the primary purpose...Read More
Rob Melberth: $3 Million Complaint Against Melberth Capital Advisor
Recent investor complaints against Sarasota financial advisor Rob Melberth (CRD# 4775230) allege that his investment advice resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is a broker with Emerson Equity and an investment advisor with Melberth Capital, doing business as Melberth Enterprises.
Mr. Melberth’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in October 2022, alleges that as a representative of Emerson Equity, he breached his fiduciary duty, violated industry rules, breached contract, acted negligently, and fraudulently induced the claimant to hold an investment. The pending complaint alleges damages of $3,276,000. He denied the claim in a statement on the complaint’s disclosure, asserting the allegations are “false” and that he intends to “vigorously” defend himself against them.
An earlier complaint, filed in September 2022, alleges fraud, negligence, breach of contract, violation of industry rules, and breach of fiduciary duty. The pending complaint alleges damages of $728,000.
A third complaint, filed in October 2022, alleges breach of fiduciary duty and fraudulent inducement to hold an investment while he was at Aegis Capital. This pending complaint alleges damages of $3 million.
A fourth pending complaint, also filed in September 2022, alleges inadequate due diligence, suitability violations, fraud, breach of contract, and breach of fiduciary duty while he was at Aegis Capital, seeking damages of $555,000. Another September 2022 pending complaint details the same allegations, seeking damages of $2,482,000.
A sixth complaint, filed in July 2022, alleges that as a representative of Emerson Equity and “Melberth Capital,” he breached his fiduciary duty, breached contract, acted negligently, and violated industry rules. The pending complaint alleges damages of $2.1 million.
In a statement on the pending complaint’s disclosure, Mr. Melberth denied the allegations. “The Allegations against me are false, despite customer(s) written acknowledgement that they understood the investment and associated risks,” he wrote, adding: “ I acted within the SEC, FINRA and State Securities Laws and intend to vigorously defend myself against these claims.”
According to the Financial Industry Regulatory Authority, Rob Melberth holds 18 years of securities industry experience. Based in Sarasota, Florida, he has been a broker and an investment advisor with Emerson Equity and Melberth Capital, respectively, since 2020. He does business as Melberth Enterprises. His past registrations include Aegis Capital, JHS Capital Advisors, Gunnallen Financial, Morgan Stanley & Company, Morgan Stanley, Morgan Stanley DW, SPC, and Sigma Financial Corporation. His credentials include the passage of four securities industry exams: the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; the Futures Managed Funds Examination, or Series 31; and the Securities Industry Essentials Examination, or SIE. He is licensed in Florida, Maryland, Michigan, Pennsylvania, and Wisconsin. (Information current as of December 21, 2022.)
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.