Robert Omohundro: LCORE Advisor Lands Suitability Complaint

Atlanta financial advisor Robert Omohundro (CRD# 2415942) has received multiple investor complaints alleging that he recommended unsuitable investments, resulting in losses. Financial Industry Regulatory Authority records show that he is currently registered as a broker and an investment advisor with Alexander Capital, doing business as LCORE Wealth Management.

Mr. Omohundro’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in January 2024, alleges that as a representative of Centaurus Financial, he recommended “unsuitable investments and investment strategies in various illiquid alternative investments.” The pending complaint alleges unspecified damages that potentially exceed $5,000.

An earlier investor complaint, filed in 2021, alleged that as a representative of Cetera Financial and Centaurus Financial, he recommended unsuitable investments and over-concentrated the customers’ holdings. In 2022 the complaint reached a settlement of $5,000.

A third complaint, filed in 2015, alleged that as a representative of JP Turner & Company and Centaurus Financial, he misrepresented material facts, recommended unsuitable real estate securities, acted negligently, violated federal and state securities laws, breached contract, and breached his fiduciary duty. The complaint reached a settlement of $6,516.

A fourth complaint, filed in 2004, alleged that as a representative of Wachovia Securities Financial Network, he recommended unsuitable investments and made unauthorized trades. The complaint reached a settlement of $25,000.

LCORE Wealth Management’s website includes a profile of Mr. Omohundro that describes him as the firm’s CEO. “Through the years of experience and training, I have learned to provide clear, easily understood explanations of Financial concepts, markets, and products,” he writes in the profile. “I work closely with each of my clients to develop a personalized roadmap to an independent financial future.”

According to the Financial Industry Regulatory Authority, Robert Omohundro holds 30 years of securities industry experience. Based in Atlanta, Georgia, he has been a broker and an investment advisor with Alexander Capital since 2020, doing business as LCORE Wealth Management. His past registrations include Centaurus Financial, JP Turner & Company, MML Investors Services, Wachovia Securities, Raymond James Financial Services, Robert Thomas Securities, JC Bradford & Company, and Burnett Grey & Company. His credentials include the passage of four 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; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 28 state licenses. (Information current as of March 24, 2024.)

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