Rob Silvestri: Aegis Advisor Sanctioned After Loan Allegations

Former Dallas financial advisor Rob Silvestri (CRD# 2037669) was recently sanctioned in connection with alleged rule violations and barred from acting as a broker. Financial Industry Regulatory Authority records show that he was last registered with Aegis Capital Corporation, doing business as Silvestri Asset Management.

Mr. Silvestri’s BrokerCheck report discloses the recent FINRA enforcement action against him. Filed in November 2023, it alleged that he refused to provide on-the-record testimony that FINRA requested as part of an investigation “into whether he borrowed funds from a customer.” As a result of his refusal, FINRA barred him from registering with any member firm in any capacity.

An earlier disclosure concerns his firing from Aegis Capital. Filed in July 2023, it states that the firm terminated him in connection with an investigation that determined he borrowed money from a client without its “knowledge, consent, or approval.” According to a third disclosure, he was also fired from Level Four Advisory Services in November 2022 in connection with allegations he failed to follow firm policies regarding “disclosure information.”

Two final disclosures on Mr. Silvestri’s BrokerCheck report concern investor complaints against him. The most recent, filed in alleged that as a representative of Level Four Advisory Services, he made unsuitable investment recommendations that resulted in losses, and that he “wrote personal checks to cover some of the losses.” In 2023 the complaint reached a settlement of $8,000.

A second investor complaint, filed in 2022, alleged that as a representative of UBS and Merrill Lynch, he recommended unsuitable investments, misrepresented and omitted material facts, and breached his fiduciary duty. The complaint evolved into an arbitration proceeding before a FINRA panel, which issued an award to the customer of $20,000.

According to the Financial Industry Regulatory Authority, Rob Silvestri holds 33 years of securities industry experience. He was most recently registered as a broker with Aegis Capital in Dallas, Texas from January 2023 until July 2023. His past registrations include Level Four Financial (Allen, Texas; 2018-2022), Morgan Stanley (Dallas, Texas; 2010-2018), UBS Financial Services (Addison, Texas; 2000-2010), and Merrill Lynch (New York, New York; 1990-2000). His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Futures Managed Funds 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 currently barred from acting as a broker. (Information current as of January 17, 2024.)

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