B. Riley Advisors Charlie Hartley, Roger Follis Face $2.6mm Complaint

Washington, DC financial advisors Charlie Hartley (CRD# 2658276) and Roger Follis (CRD# 2653439) recently received an investor complaint alleging that their conduct led to more than $2 million in damages. Financial Industry Regulatory Authority records show that they are representatives of B. Riley Wealth Management, operating under the name Follis Hartley Group.

Mr. Hartley’s and Mr. Follis’s BrokerCheck reports each disclose the same investor complaint. Filed in December 2023, it alleges unsuitable investment recommendations, excessive trading of options investments, and deviation from an investment plan. The pending complaint alleges damages of $2.6 million.

In a statement included with the complaint’s disclosure, Mr. Follis pushes back against the allegations, writing that the customer out-performed their benchmark from 2020 to 2022. “In 2019, his combined accounts made profits exceeding +$2,000,000,” he states. “This $2 million profit was the client’s best year ever. But the client did not mention any of these results in his claim. This claim is clearly without merit. This is a ‘money grab.’ As a result, I intend to fight it to the fullest extent possible.”

Mr. Hartley also defends himself against the allegations in a complaint included with the disclosure, writing that the client belonged to Mr. Follis, his partner. “I had zero involvement with this client’s portfolio,” he writes. “None.”

According to the Financial Industry Regulatory Authority, Charlie Hartley holds 26 years of securities industry experience. Based in Washington DC, he has been registered as a broker with B. Riley Wealth Management since 2020 and an investment advisor with B. Riley Wealth Advisors since 2022. His past registrations include Wells Fargo Advisors, Raymond James Financial Services, Robertson Stephens, Bear Stearns & Company, and Montgomery Securities. Also based in Washington DC, Roger Follis holds 28 years of securities industry experience and has been registered with B. Riley as a broker since 2020 and as an advisor since 2022. His past registrations include Wells Fargo, Raymond James, and Crystal Asset Management. Mr. Hartley’s credentials include the passage of six securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. Mr. Follis has passed the same examinations, as well as the Registered Options Principal Examination, or Series 4. (Information current as of January 6, 2024.)

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