Robert Smith: GPB Complaints Against Peregrine Private Capital Advisor

Newberg, Oregon financial advisor Robert Smith (CRD# 1412333) allegedly sold unsuitable investments in GPB Capital, according to investor complaints against him. Financial Industry Regulatory Authority records show that he is a broker with Emerson Equity, doing business as Peregrine Private Capital.

Mr. Smith’s BrokerCheck report discloses two pending investor complaints. The most recent, filed in May 2022, alleges that as a representative of Pacific West Securities and Concorde Investment Services, he recommended unsuitable investments and committed fraud between 2009 and 2020. The pending complaint alleges damages of $589,927. A second complaint, filed in 2021, alleges he sold unsuitable investments in GPB Automotive and VII Peaks Co-Optivist BDC II. This pending complaint alleges damages of $944,428.

There are also seven settled investor complaints disclosed on Mr. Smith’s BrokerCheck report. A complaint filed in 2020 alleged he recommended unsuitable investments and made fraudulent and negligent misrepresentations, reaching a settlement in 2021 of $425,000. Another 2020 complaint alleged he made unsuitable recommendations, breached contract, breached his fiduciary duty, engaged in negligence, and violated Oregon securities law in the purchase of private placements, reaching a settlement of $265,000. A third complaint filed in 2020 similarly alleged negligence, breach of fiduciary duty, and breach of contract related to investments “in various GPB programs,” reaching a settlement of $278,250. 

A fourth complaint, filed in 2020, alleged violations of the Nebraska Securities Act, breach of fiduciary duty, and negligence in connection with investments in GPB Automotive, reaching a settlement of $110,000. A fifth, filed in 2019, alleged suitability violations, fraud, supervisory failures, and negligence in relation to investments in VII Peaks and GPB Automotive, reaching a settlement of $90,000. Another 2019 complaint alleged unsuitable GPB investments, settling for $280,000.

According to the Financial Industry Regulatory Authority, Robert Smith holds 35 years of securities industry experience. Based in Newberg, Oregon, he has been a representative of Emerson Equity since 2020, doing business as Peregrine Private Capital. His past registrations include Concorde Investment Services (Newberg, Oregon; 2011-2020), Pacific West Securities (Beaverton, Oregon; 2007-2011), Brookstreet Securities (Beaverton, Oregon; 1996-2007), Toluca Pacific Securities (Burbank, California; 1995-1996), Allmerica Investments (Worcester,  Massachusetts; 1993-1994), A.G. Edwards & Sons (St. Louis, Missouri; 1990-1993), and Merrill Lynch (New York, New York; 1985-1990). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 22 state licenses. (Information current as of June 7, 2022.)

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