Dharmesh Vora: Vora Wealth Advisor Denies 6-Figure Investor Complaints

Flagstaff financial advisor Dharmesh Vora (CRD# 2629494) is involved in multiple recent investor complaints alleging cumulative damages of more than $1 million. Records provided by the Securities and Exchange Commission indicate that he is an investment advisor with Vora Wealth Management.

Mr. Vora’s BrokerCheck report discloses four investor complaints. The most recent, filed in October 2022, alleges that as a representative of Vora Wealth Management, he recommended unsuitable structured note investments. The pending complaint alleges damages between $250,000 and $499,999.

A second investor complaint, filed in September 2022, similarly alleges that he made unsuitable structured note recommendations and did not diversify the customer’s portfolio. The pending complaint alleges damages of $800,000. In a statement included with the complaint’s disclosure, Mr. Vora wrote that he “denies any wrongdoing” and “believes the portfolio was properly in line with the suitability and risk assessment.”

A third investor complaint, filed in May 2022, also alleges he recommended unsuitable structured notes while a representative of Vora Wealth Management. The pending complaint alleges damages of $165,000. In a statement included with the complaint’s disclosure, Mr. Vora “denies any wrongdoing.”

A fourth investor complaint, filed in June 2022, alleges that he failed to diversify the customer’s portfolio and unsuitably recommended investments in structured note products. The pending complaint, which Mr. Vora denies in a statement at the end of the disclosure, alleges damages of $300,000.

According to the Securities and Exchange Commission, Mr. Vora holds 13 years of securities industry experience. Based in Flagstaff, Arizona, he has been an investment advisor with Vora Wealth Management since 2011. He was previously registered with Global Financial Private Capital (Flagstaff, Arizona; 2010-2012) and North Harbor Advisers (Mount Clemens, Michigan; 2009-2011). His credentials include the passage of the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, California, Florida, Illinois, North Carolina, Puerto Rico, and Texas. (Information current as of January 14, 2023.)

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