Scott Kemps: $400K Complaint Against Spectrum Capital Advisor

Melbourne, Florida financial advisor Scott Kemps (CRD# 1849069) allegedly recommended unsuitable investments that resulted in six-figure losses, according to a recent investor complaint. Records provided by the Financial Industry Regulatory Authority show that he is a broker with Great Point Capital, an investment advisor with BlueSky Investment Advisers, and the president of Spectrum Capital Management.

Mr. Kemps’ BrokerCheck report discloses multiple investor complaints. The most recent, filed in December 2022, alleges that as a representative of Great Point Capital, he recommended unsuitable, speculative, and illiquid investments between 2014 and 2015. The pending complaint alleges damages of $400,000.

A second investor complaint, filed in 2021, alleged that he recommended an unsuitable private offering while at Great Point Capital. In 2022 the complaint reached a settlement of $206,300.

A third investor complaint, filed in 2021, alleged that he made misrepresentations and omissions regarding an “investment in an early stage cancer drug private offering.” In 2023 the complaint reached a settlement of $18,500.

A fourth investor complaint, filed in 2021, alleged unsuitable investment recommendations, breach of fiduciary duty, lack of due diligence, fraud, and breach of contract in connection with an investment in GPB Capital. In 2022 the complaint reached a settlement of $400,000.

A fifth investor complaint, also filed in 2021, alleged that he recommended unsuitable DPP investments between 2015 and 2020. In 2022 the complaint reached a settlement of $110,000.

A sixth investor complaint, filed in 1999, alleged that he recommended unsuitable options investments while at Securities Service Network. The complaint reached a settlement of $200,000.

According to the Financial Industry Regulatory Authority, Scott Kemps holds 34 years of securities industry experience. Based in Melbourne, Florida, he has been a broker with Great Point Capital and an investment advisor with BlueSky Investment Advisers since 2014. His registration history includes Meyers Associates, International Assets Advisory, Ariston Wealth Management, Anderson & Strudwick, Jesup & Lamont Securities, Empire Investment Advisors, Empire Financial Group, Centennial Capital Management, Summit Brokerage Services, Securities Service Network, and Anchor National Financial Services. His credentials include the passage of 13 securities industry qualifying exams and he is licensed in California, Florida, Maryland, Minnesota, New York, Ohio, South Carolina, Tennessee, and Virginia. (Information current as of May 20, 2023.)

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