According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Roger Roemmich (Roemmich), previously associated with Alexander Capital, L.p., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Roemmich recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $7,500,000.00 on May 01, 2025.
One of Mr. Roemmich’s customers alleged that Mr. Roemmich aided and abetted securities fraud, engaged in fraud, made negligent misrepresentations, was unjustly enriched, and breached his fiduciary duties to the customer. Customer alleged that he made a series of three direct investments in a Media Company – $1 million on or about July 15, 2020, $1.5 million on December 21, 2020, and $5 million on September 2, 2021. Customer allegedly made these investments in reliance on various statements made by Mr. Roemmich and the Media Company on unspecified dates prior to the first investment. Customer alleged that the statements on which he relied were false. Customer further alleged that Mr. Roemmich failed to disclose various relevant facts about the Media Company including that Mr. Roemmich failed to disclose that he was compensated for investors he brought to the company.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $7,500,000.00 on May 01, 2025.
Alleges Aiding and Abetting Securities Fraud, Fraud, Unjust Enrichment, Breach of Fiduciary Duty. July 2020 – September 2021.
Brokers are required to adhere to the SEC’s Regulation Best Interest (Reg BI) standard of care under the Securities Exchange Act of 1934 which establishes a ‘best interest’ standard for broker-dealers and associated persons. This standard applies when brokers make recommendations to retail customer for any securities transaction or investment strategy involving securities, including recommendations of types of accounts. Reg BI is drawn from fiduciary principles that include an obligation to act in the retail investor’s best interest and the broker is prohibited from placing their own interests ahead of the investor’s interest.
There are several different aspects of the rule that brokers must comply with. One of which is the care obligations which requires brokers to form a reasonable belief that their investment advice and recommendations are in the retail investor’s best interest. The care obligations includes three components. First, the advisor must have an understanding of the potential risks, rewards, and costs associated with a product, investment strategy, account type, or series of transactions. Next, the advisor must have a reasonable understanding of the specific retail investor’s investment profile. The customer’s profile information generally includes an investor’s financial situation and needs; investments; assets and debts; marital status; tax status; age; investment time horizon; liquidity needs; risk tolerance; investment experience; investment objectives and financial goals; and any other information the retail investor may disclose in connection with the recommendation or advice. Finally, the financial advisor must use their knowledge of both their reasonable diligence into investment options as well as their knowledge of the investor’s client specific needs to consider reasonably available investment options. Those investment options must allow the broker to determine that there is a reasonable basis that the recommendation is in the retail investor’s best interest.
An advisor must understand the type of account, securities, and their client in order to meet their care obligations. The type of securities account has the potential to greatly affect retail customers’ costs and investment returns. Different types of securities accounts can offer different features, products, or services, and not all types of accounts or services would be in every investor’s best interest.
Roemmich has been in the securities industry for more than 26 years. Roemmich has been registered as a Broker with Alexander Capital, L.p. since 2020.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.