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Vail Advisor MaRico Tippett: Alternative Investment Complaint
Community Wealth Builders investment advisor MaRico Tippett (CRD# 4821428) allegedly recommended an unsuitable alternative investment, according to a recent investor complaint against him. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the Vail, Arizona representative was formerly a broker with FSC Securities Corporation and is no longer registered as a broker.
Mr. Tippett’s BrokerCheck report discloses one investor complaint against him. Filed in February 2022, the complaint alleges that as a representative of PGH Advisors, he recommended an unsuitable alternative investment in 2017. The pending complaint alleges damages between $50,000 and $300,000.
An unsuitable investment, according to FINRA Rule 2111, is an investment which the broker does not have a reasonable basis to believe is appropriate for their customer’s investment profile. An investor’s profile “includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance,” and other factors. FINRA-associated brokers are required to perform reasonable diligence to determine a customer’s profile; they must also ensure that the investment in question is not only suitable for some customers, but for the specific customer to which they are recommending it.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, MaRico Tippett holds 17 years of securities industry experience. Based in Vail, Arizona, he has been an investment advisor with Community Wealth Builders since December 2020. His past registrations include PGH Advisors, Bedrock Investment Advisors, BFC Planning, Genesis Financial Advisors, FSC Securities Corporation, Wilbanks Securities, and World Group Securities. His credentials include the passage of three securities industry qualifying examinations: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed as an investment advisor in Arizona and Texas. (Information current as of June 25, 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.