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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.)

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.

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