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Tim Sherer: Complaint Against Sherer Group Advisor Seeks $448K
Los Gatos financial Tim Sherer (CRD# 833618) recently received an investor complaint alleging elder abuse and other forms of misconduct. Records provided by the Financial Industry Regulatory Authority indicate that he is registered as a broker and an investment advisor with Emerson Equity, doing business as The Sherer Group.
Mr. Sherer’s BrokerCheck report discloses several investor complaints. the most recent, filed in March 2023, alleges violations of state and federal securities laws, unsuitable investment recommendations, misrepresentations and omissions of material facts regarding a corporate bond investment, violation of California financial elder abuse laws, breach of contract, breach of fiduciary duty, common law fraud, negligence, and gross negligence. The pending complaint alleges damages of $448,781.65.
Mr. Sherer pushed back against the allegations in a statement included with the complaint’s disclosure, describing them as false. “At all times, I acted within the bounds of SEC, FINRA and state securities laws and regulations,” he wrote. “I intend to vigorously defend myself against these claims.”
An earlier investor complaint, filed in 2012, alleged that he violated state and federal securities laws, sold unregistered securities, made misrepresentations of material facts, recommended unsuitable products, breached his fiduciary duty, breached contract, and acted negligently. In 2013 the complaint reached a settlement of $127,500.
According to the Financial Industry Regulatory Authority, Tim Sherer holds 44 years of securities industry experience. Based in Los Gatos, California, he has been a broker and an investment advisor with Emerson Equity since 2019, doing business as The Sherer Group. He is also registered with Emerson Equity in Reno, Nevada. His past registrations include Sandlapper Securities, SCF Securities, JP Turner & Company, Regal Securities, Brookstreet Securities Corporation, MetLife Securities, Metropolitan Life Insurance Company, Sunset Financial Services, John Hancock Distributors, John Hancock Mutual Life Insurance Company, Soares Financial Group, Fahnestock & Company, BC Christopher Securities, Mutual benefit Financial Services Company, PML Securities Company, EI Sales, and TransAmerica Fund Sales. His credentials include the passage of seven securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Registered Representative Examination, or Series 1; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Direct Participation Programs Representative Examination, or Series 22TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 20 state licenses. (Information current as of April 17, 2023.)
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