Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Lybbert (Lybbert), currently associated with Edward Jones, has at least 4 disclosable events. These events include 4 customer complaints, alleging that Lybbert 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 $2,000,000.00 on August 08, 2025.
Breach of Fiduciary duty, Negligence, negligent misrepresentation and omissions, breach of contract, violation of the Washington State Securities Act RCW 21.20.010, Violation of the WA Consumer Protection Act RCW 19.86 et seq.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $962,605.55 on July 25, 2025.
The Claimant alleges Negligence, Negligent Misrepresentations, Violation of Securities Act of Washington, Violation of the Duty of Care under the Investment Advisors Act of 1940. Unlawful Sale of Securities in Violation of RCV 21.20.140, violation of Washington’s Consumer Protection Act, RCW 19.86, Voidable Real Property Transactions, RCW 19.40.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $15,000,000.00 on July 22, 2025.
The Claimants allege Breach of Fiduciary Duty and Negligence.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,375,210.00 on June 12, 2025.
Breach of fiduciary duty, fraud, unjust enrichment, violation of Washington Securities Laws due to recommendation of unsuitable products to claimant resulting in substantial loss between August 2024 and April 2025.
When your financial advisor is providing advice they must adhere to the SEC’s Regulation Best Interest (Reg BI) rule and standard of care. Reg BI replaced the former “suitability” rule and created a ‘best interest’ standard for brokerage firms and registered representatives. This standard applies when a registered representative is providing investment advice through making recommendations customers and covers securities transaction, investment strategies, and recommendations concerning advice on opening of an account or accounts. This standard applies when a registered representative is providing investment advice through making recommendations customers and covers securities transaction, investment strategies, and recommendations concerning advice on opening of an account or accounts.
Next, the broker must understand the investor’s investment background and profile. A customer’s profile includes information that describes the investor’s financial situation and needs. Information here will include their outside securities accounts and investments; relevant assets and debts; tax bracket; age; liquidity needs; risk tolerance; investment time horizon; experience with investing; investment objectives; and any other relevant information that the investor may choose to disclose pertinent to their situation. The Reg BI rule applies a fiduciary principles and requires an associated person to act in the retail investor’s “best interests” while barring the broker from placing their own financial interests and compensation incentives ahead of the investor’s best interest. Reg BI comes with different key obligations that associated persons must meet in dispensing advice. The care obligation requires registered representatives to carefully evaluate investment options, review the risks and rewards of the investment or service, compare similar products, and ensure that the recommended investment is appropriate for the customer and in the retail investor’s best interest.
Next, the broker must understand the investor’s investment background and profile. A customer’s profile includes information that describes the investor’s financial situation and needs. Information here will include their outside securities accounts and investments; relevant assets and debts; tax bracket; age; liquidity needs; risk tolerance; investment time horizon; experience with investing; investment objectives; and any other relevant information that the investor may choose to disclose pertinent to their situation. 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. Brokerage firms and advisors must also understand the features and limitations of various account types as part of meeting Reg BI’s care obligations. Firms typically offer a variety of account options and services with different trading costs, services, such as account and activity monitoring. An advisor’s recommendation as to what type of securities account to open can alter the customers’ overall costs and investment returns. The advisor must determine that the client can benefit from the type of account being recommended to be opened and in the investor’s best interest taking into account the costs, benefits, and needs of the client.
Lybbert entered the securities industry in 2021. Lybbert has been registered as a Broker with Edward Jones since 2025.
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.