San Mateo, California – December 6, 2025 – James Dwight McPherson (CRD# 5918462), a broker registered with Emerson Equity LLC in San Mateo, California, has three customer disputes on his FINRA BrokerCheck record. The complaints involve allegations of unsuitable investments, breach of fiduciary duty, and violations of securities statutes related to alternative investments including GPB Automotive Portfolio, Northstar Healthcare, and real estate securities. This article provides investors with details from publicly available FINRA records and information about potential recovery options.
BrokerCheck Snapshot
Name: Jay McPherson
CRD #: 5918462
Firm: Emerson Equity LLC
Location: San Mateo, California
Years in Industry: 14
Number of Disclosures: 3
Customer Complaints Against James Dwight McPherson
Complaint #1: Arbitration Award – Alternative Investment Allegations
On February 28, 2020, a customer filed a FINRA arbitration complaint (Case #20-00687) alleging breach of contract and warranties, promissory estoppel, unfair trade and deceptive practices, violation of state securities statutes including the Florida Securities and Investor Protection Act, violation of state fraud statutes, claims under common law, and joint and several liability and vicarious liability. The allegations related to the purchase of various alternative investmentsincluding GPB Automotive Portfolio, Northstar Healthcare, and Hospitality Investors Trust, Inc. The activities occurred while McPherson was employed at Sandlapper Securities, LLC and Concorde Investment Services, LLC between August 2015 and February 2016.
Product Type: Direct Investment – DPP & LP Interests
Alleged Damages: Between $100,000 and $500,000
Status: Award to Customer on April 21, 2021
Award Amount: $125,000.00 total compensation
Individual Broker Contribution: $25,000.00
Additional Liability: McPherson was found jointly and severally liable for violation of Section 517.211 of the Florida Securities and Investor Protection Act and ordered to pay additional compensatory damages of $20,000.00 plus interest, and attorneys’ fees of $5,000.00.
Complaint #2: Settled – Breach of Fiduciary Duty
On May 4, 2020, a customer filed a complaint (FINRA Case #20-00827) alleging breach of fiduciary duty, unsuitable recommendation, breach of contract, and negligence relating to investments made in August 2016. The activities occurred while McPherson was employed at Concorde Investment Services, LLC.
Product Type: Direct Investment – DPP & LP Interests
Alleged Damages: $75,000.00
Status: Settled on March 1, 2021
Settlement Amount: $21,500.00
Individual Broker Contribution: $0.00
Complaint #3: Pending – Real Estate Security Allegations
On October 22, 2025, a customer filed a FINRA arbitration complaint (Case #25-02295) alleging breach of fiduciary duty, violation of Regulation Best Interest, negligence, violation of FINRA rules, negligent misrepresentation, common law fraud, and violation of the Florida Securities and Investor Protection Act. The complaint involves a real estate security and occurred while McPherson was employed at Emerson Equity LLC.
Product Type: Real Estate Security
Alleged Damages: Rescission sought, estimated to exceed $500,000.00, plus prejudgment interest, costs, attorneys’ fees, and further relief
Status: Pending
FINRA Case Number: 25-02295
Date Notice Served: October 22, 2025
Pattern of Complaints / Risk Factors
While each case is unique, complaints alleging unsuitable investments, breach of fiduciary duty, and violations of securities statutes may indicate concerns related to inadequate risk disclosures, misrepresentation of investment characteristics, or failure to supervise. The pattern of complaints involving alternative investments and direct participation programs suggests potential issues with recommending illiquid, high-risk products. Investors should carefully review account statements and seek legal guidance if similar issues occurred.
Can Investors Recover Losses?
Investors who were recommended unsuitable or high-risk investments may be entitled to recover losses through securities arbitration. Patil Law, P.C. has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases. We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you.
About FINRA Arbitration
FINRA arbitration is a streamlined dispute resolution process for securities-related claims. It offers a faster, more cost-effective alternative to traditional court litigation. Most cases are resolved within 12-16 months. Claims generally must be filed within six years of the incident.
Related Brokers and Firms
James Dwight McPherson is currently registered with Emerson Equity LLC. Investors who have concerns about other investment professionals at this firm or related matters may wish to review additional resources on our website, including information about investment fraud, variable annuity fraud, and alternative investment disputes.
Prior to his current employment with Emerson Equity LLC (since February 2021), McPherson was previously registered with Great Point Capital LLC, Great Point Advisors LLC, Sandlapper Wealth Management LLC, Sandlapper Securities LLC, Concorde Investment Services LLC, Wells Fargo Advisors LLC, and Merrill Lynch Pierce Fenner & Smith Incorporated.
Frequently Asked Questions
Q1: What are the complaints against James Dwight McPherson?
James Dwight McPherson has three customer disputes on his record. The first resulted in an arbitration award of $125,000 (with McPherson personally contributing $25,000) plus additional damages of $20,000 and attorneys’ fees of $5,000 for violations of Florida securities law involving alternative investments. The second was settled for $21,500involving allegations of breach of fiduciary duty and unsuitable recommendations. The third complaint is currently pending, alleging breach of fiduciary duty and Regulation Best Interest violations involving a real estate security with damages estimated to exceed $500,000.
Q2: Can investors recover losses involving Emerson Equity LLC?
Yes, investors who have suffered losses due to broker misconduct may be entitled to recover damages through FINRA arbitration. Securities laws provide protections for investors, and many claims are resolved through the arbitration process. An experienced securities attorney can evaluate your specific situation.
Q3: What is FINRA arbitration?
FINRA arbitration is a dispute resolution forum specifically designed for securities-related claims between investors and brokers or brokerage firms. It provides a more efficient and cost-effective alternative to traditional litigation, with most cases resolved within 12-16 months.
Q4: What does “unsuitable investment” mean?
An unsuitable investment occurs when a broker recommends securities that do not align with an investor’s financial situation, risk tolerance, investment objectives, or needs. Brokers have a duty to ensure recommendations are suitable for their clients based on the client’s individual circumstances.
Q5: How do I look up a broker on BrokerCheck?
Visit FINRA’s BrokerCheck website at brokercheck.finra.org. Enter the broker’s name or CRD number in the search box. Review the broker’s employment history, qualifications, and any disclosed complaints, arbitrations, or regulatory actions. BrokerCheck is a free public resource maintained by FINRA.
Q6: What should I do if I suspect broker misconduct?
First, document all communications, account statements, and transaction confirmations. File a written complaint with your brokerage firm and keep copies of all correspondence. Contact a securities attorney to discuss your legal options. Consider filing a complaint with FINRA or your state securities regulator. Time limits apply to arbitration claims, so prompt action is important.
About Patil Law, P.C.
Patil Law, P.C. is a securities litigation firm dedicated to representing investors who have suffered losses due to broker misconduct, unsuitable recommendations, and securities fraud. Founded in 2018 by attorney Chetan Patil, the firm focuses exclusively on FINRA arbitration and investment loss recovery.
With over 15 years of combined experience in securities law, Patil Law has successfully recovered more than $25 million for clients across 1,000+ cases. Attorney Chetan Patil earned his law degree from Case Western Reserve University School of Law. Attorneys Gabriela Dubrocq and Patricia Herrera earned their law degrees from University of Miami. The firm handles cases nationwide involving unauthorized trading, churning, unsuitable investments, breach of fiduciary duty, and failure to supervise.
Patil Law works on a contingency fee basis, meaning clients pay no attorney fees unless the firm successfully recovers money on their behalf. All consultations are free and confidential.
Contact Patil Law for a Free Consultation
If you have experienced losses with James Dwight McPherson or any other broker at Emerson Equity LLC, contact Patil Law, P.C. for a free, confidential consultation. Our experienced securities attorneys can review your account and advise you on your legal options. Call 800-950-6553 or email info@patillaw.com today. There is no obligation, and we work on a contingency fee basis.
Disclaimer:
The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending or unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.
