Sanjay Mathur: Suitability Complaint Against RBC Advisor

A recent investor complaint against Irvine, California financial advisor Sanjay Mathur (CRD# 1144243) alleges that he recommended unsuitable investments. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with RBC Capital Markets.

Mr. Mathur’s BrokerCheck report discloses multiple investor complaints.The most recent, filed in November 2024, alleges that as a representative of Wells Fargo Advisors, he “recommended investments in a high risk foreign security despite [the] client’s age and retirement timeline.” The pending complaint alleges unspecified damages.

An earlier investor complaint, filed in 2016, alleged that as a representative of Wells Fargo and Morgan Stanley, he recommended unsuitable investments in stocks and closed-end funds. In 2017 the complaint reached a settlement of $30,000.

In a statement included with the 2016 complaint’s disclosure, Mr. Mathur pushed back against the allegations. “I believe this claim has no merit,” he wrote. “I personally handled the customer’s accounts in a careful and prudential manner according to her specific wishes, and all trades were made with the customer’s knowledge and acceptance of the potential risks.”

A third investor complaint, filed in 2015, alleged that he made excessive trades and generated excessive fees as a representative of Wells Fargo Advisors. In 2016 the complaint reached a settlement of $45,000.

A fourth investor complaint, filed in 2008, alleged that as a representative of Morgan Stanley, he made unauthorized purchases. In 2009 the complaint reached a settlement of $3,159.76.

A fifth disclosure on his BrokerCheck report concerns his termination from Morgan Stanley. Filed in 2012, it states that the firm fired him in connection with allegations that he made discretionary trades without proper written authorization.

According to the Financial Industry Regulatory Authority, Sanjay Mathur holds 41 years of securities industry experience. Based in Irvine, California, he has been registered as a broker and an investment advisor with RBC Capital Markets since March 2024. His registration history includes Wells Fargo Clearing Services, Morgan Stanley, Prudential Securities, Painewebber, Lehman Brothers, and First Investors Corporation. He is licensed in Arizona, California, Delaware, Florida, Illinois, Kansas, Minnesota, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, Texas, Virginia, and Wisconsin. (Information current as of December 2, 2024.)

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