Last Updated: October 2024 (Littleton, Colorado)
Brian Joseph Perkins Financial Advisor Fraud Alert
National securities fraud lawyers at Patil Law P.C. are investigating broker Brian Joseph Perkins (CRD #5630932), who has faced customer disputes related to unsuitable investment recommendations and alleged misrepresentation. His record raises concerns for potential investors.
Brian Joseph Perkins (CRD #5630932) is a financial advisor with over a decade of experience, currently registered with Emerson Equity LLC in Littleton, Colorado. However, his career has been marked by a significant customer dispute involving allegations of unsuitable investment recommendations and breach of fiduciary duty, leading to a substantial settlement. Below, we provide further details on these issues and other key information for potential investors.
Critical insights about Littleton, CO stockbroker Brian Joseph Perkins:
- Advisor Name: Brian Joseph Perkins
- CRD: 5630932
- Location: Littleton, Colorado
- Current Employer: Emerson Equity LLC
- Classification: Stockbroker + Financial Advisor
- Primary Location: Littleton, CO
- Can Brian Joseph Perkins be sued in private FINRA arbitration: Yes
- Has Mr. Perkins been barred by FINRA: No
- Highest Damages Allegation: $120,000
- Pending Customer Dispute: No (settled)
If you have suffered investment losses due to Brian Joseph Perkins, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty lawyer. Reach out to the legal team at Patil Law P.C. via the secure online form or call the firm directly toll-free at (800) 950-6553.
Lost Money With Stockbroker Brian Joseph Perkins?
Brian Joseph Perkins has been involved in several disputes related to allegations of unsuitable recommendations and violations of securities laws:
- Customer Dispute (2022): A client alleged violations of the Colorado Securities Act, breach of fiduciary duty, and negligent misrepresentation related to an investment in GWG Holdings L Bonds, which later filed for bankruptcy. The dispute sought $120,000 in damages, and the case was settled for $92,773 on August 30, 2023 (FINRA Case #22-01641).
Allegations of Broker Misconduct Against Brian Joseph Perkins
Brian Joseph Perkins has faced the following allegations across customer disputes:
- Unsuitable Investment Recommendations: Clients have alleged that Perkins recommended investments that were not appropriate for their financial profiles, particularly in relation to the GWG Holdings L Bonds.
- Breach of Fiduciary Duty: Allegations include failure to act in the best interest of the client by recommending high-risk products that later resulted in substantial losses.
- Misrepresentation: Claims involve misleading clients regarding the safety and risk of certain investments, violating FINRA Rule 2111 on suitability and FINRA Rule 2010 on standards of commercial honor and integrity.
These actions suggest violations of FINRA Rule 2111, which governs the suitability of investment recommendations, and FINRA Rule 2010, which mandates ethical conduct in the securities industry.
Broker Experience Summary
Brian Joseph Perkins (CRD #5630932) has been active in the financial services industry since 2009. He is currently employed with Emerson Equity LLC in Littleton, Colorado, where he provides financial advice and brokerage services. Throughout his career, Perkins has been registered with multiple firms, including Cetera Advisor Networks LLC, SunAmerica Securities, and ING Financial Partners, Inc.. Over the years, Perkins has passed several industry exams, including the Series 7 – General Securities Representative Examination and the Series 66 – Uniform Combined State Law Examination, allowing him to offer a wide range of financial services.
In addition to his current role, Perkins has held registrations in various U.S. states, including Colorado and California. Despite his extensive experience, Perkins has been involved in customer disputes regarding allegations of unsuitable recommendations, resulting in settlements.
Negative Disclosures and Customer Disputes
Brian Joseph Perkins has been involved in one significant customer dispute:
- Customer Dispute (2022): In August 2022, a client alleged that Perkins had violated the Colorado Securities Act, breached his fiduciary duty, and made negligent misrepresentations regarding investments in GWG Holdings L Bonds, which later filed for bankruptcy. The client sought $120,000 in damages. This case was settled for $92,773 in August 2023.
There have been no other reported regulatory actions, terminations, or financial disclosures such as tax liens involving Perkins.
Allegations and Accusations
The following allegations have been made against Brian Joseph Perkins:
- Unsuitable Investment Recommendations: Perkins has been accused of recommending high-risk investments, such as GWG Holdings L Bonds, that were not suitable for his clients’ financial needs or risk tolerance.
- Breach of Fiduciary Duty: Clients have alleged that Perkins failed to act in their best interest by recommending products that resulted in significant financial losses.
- Negligent Misrepresentation: Claims have been made that Perkins misrepresented the risks and safety of certain investments, leading to violations of FINRA Rule 2111 (suitability) and FINRA Rule 2010 (commercial honor and integrity).
FINRA Rule 2111, the Suitability Rule, requires brokers to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer, based on the customer’s financial situation, needs, and investment profile. This rule covers the three key obligations: reasonable-basis suitability (the recommendation must be suitable for at least some investors), customer-specific suitability (the recommendation must be appropriate for that particular customer), and quantitative suitability (ensuring that the number of recommended transactions is not excessive). Related rules include FINRA Rule 2090, the Know Your Customer Rule, which mandates that brokers understand their clients’ investment profiles to provide suitable advice.
Patil Law P.C. Will Help You Recover Your Investment Losses
If you have suffered investment losses in an account handled by Brian Joseph Perkins or have a question about the performance of your account, please contact Attorney Patil online or (800) 950-6553 for a free initial consultation.
Our cases are handled on a contingency basis. We don’t get paid unless we win for you.
