Marc Laborde: Complaints Against Ex-UBS Advisor Settle for Millions

Investor complaints against Houston, Texas financial advisor Marc Laborde (CRD# 4975479) have settled for millions of dollars cumulatively. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Rockefeller Financial and Rockefeller Capital Management, respectively, having previously been registered with UBS Financial Services.

Mr. Laborde’s BrokerCheck report discloses 14 investor complaints, two of which were denied. The most recent, filed in July 2022, alleges that while at UBS Financial Services, he misrepresented and recommended an unsuitable options overlay strategy. The pending complaint alleges damages between $500,000 and $1,000,000.

Four of the complaints against Mr. Laborde evolved into arbitration proceedings before a FINRA panel. All filed in 2020, the complaints detailed allegations including fraud, breach of fiduciary duty, negligence, negligent supervision, breach of contract, and violation of state and federal securities laws. The complaints resulted in awards to the claimants totaling more than $4.6 million.

Seven other complaints resulted in settlements between the claimants and firm, UBS Financial Services. Filed in 2020 and 2021, the complaints detailed allegations including the misrepresentation and unsuitable recommendation of an options overlay strategy. The complaints reached settlements totaling more than $8.3 million.

In statements included on the settled complaints’ disclosures, Mr. Laborde defended himself against the allegations of misconduct. “It is my position that neither myself nor any member of our team deviated from the complete and proper compliance and sales practices of UBS in either presenting the investment or monitoring its performance,” he wrote, adding that the risks were disclosed and steps were taken to mitigate losses. In conclusion, he stated: “I acted at all times in the best interest of the client.”

According to the Financial Industry Regulatory Authority, Marc Laborde holds 16 years of securities industry experience. Based in Houston, Texas, he has been a broker with Rockefeller Financial and an investment advisor with Rockefeller Capital Management since 2020. His past registrations include UBS Financial Services and Merrill Lynch. Having passed three securities industry qualifying exams, including the Series 66 and the Series 7, he currently holds 27 state licenses. (Information current as of December 5, 2022.)

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