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Richard Roberts Allegedly Misled Investors 

Richard Roberts (CRD #: 2145874), a broker registered with TCFG Wealth Management, has an SEC regulatory action on his record, according to his BrokerCheck record on March 6, 2023. Keep reading for information on his alleged conduct as a broker. 

On September 30, 2021, Richard Roberts and his investment advisory firm TCFG Wealth Management faced an SEC regulatory action alleging he engaged in fraudulent misconduct. Allegedly, Richard Roberts defrauded clients by informing them that they may receive portions of fees charged by its clearing broker. In fact, he allegedly directed the clearing broker to charge TCFG clients an additional fee. According to the SEC, Richard Roberts either knew, or was reckless in not knowing, that this fee was charged to TCFG clients approximately 60% of the time. 

The SEC alleges that Richard Roberts violated Section 206(4) of the Advisers Act. 

The Investment Advisers Act of 1940

Section 206 (4) of the Investment Advisers Act prohibits the use of manipulative, deceptive, and otherwise fraudulent practices in investment adviser marketing. 

Background Information 

Richard Roberts has passed the following exams: 

  • Series 63 Uniform Securities Agent State Law Examination 
  • Series 99TO Operations Professional Examination 
  • Series 7TO General Securities Representative Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 
  • Series 3 National Commodity Futures Examination 
  • Series 53 Municipal Securities Principal Examination 
  • Series 4 Registered Options Principal Examination 
  • Series 24 General Securities Principal Examination 

He is a registered broker in 33 states. 

Richard Roberts has worked for the following firms:

  • Cambridge Investment Research (CRD #: 39543) 
  • Hartford Life Distributors (CRD #: 8326) 
  • USA Advanced Planners (CRD #: 131282) 

Kurta Law Can Help

If you worked with Richard Roberts and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.