If you’re searching for insights on Rick Umbarger, a financial advisor based in Newport Beach, California, and registered with Raymond James & Associates, you’re not alone. Many investors check on their advisor’s history and discoverability before entrusting them with their financial futures. With more investors scrutinizing their advisors than ever, it is essential to have all the relevant, up-to-date details right at your fingertips. Haselkorn & Thibaut, a leading national investment fraud law firm, has opened an independent investigation into Rick Umbarger and the practices at Raymond James & Associates based on recent client concerns. In this comprehensive report, you’ll learn about Rick Umbarger’s background, complaint history, potential red flags, and how you can take proactive steps if you have questions or concerns about your investments.
About Rick Umbarger – Newport Beach, CA, Raymond James & Associates
Table of Contents
Rick Umbarger (CRD# 3132496) is a veteran financial advisor with over 27 years of experience in the securities industry. Based in Newport Beach, California, he’s currently registered as both a broker and investment advisor at Raymond James & Associates (since 2022). Throughout his career, Mr. Umbarger has worked with prominent firms, including Wells Fargo Clearing Services and Citigroup Global Markets. He holds key securities licenses:
- Series 7 – General Securities Representative Examination
- Series 63 – Uniform Securities Agent State Law Examination
- Series 65 – Uniform Investment Adviser Law Examination
- Securities Industry Essentials (SIE)
Mr. Umbarger is currently licensed to operate in 29 states, giving him a broad client base and reach.
Complete List of Disclosed Complaints and Investor Allegations
When considering working with a financial advisor, it’s important to be aware of any customer complaints or regulatory concerns. As of the latest review (March 30, 2026), Rick Umbarger’s BrokerCheck record discloses two investor complaints:
| Year Filed | Allegations | Firm Involved | Status / Outcome | Amount Claimed |
|---|---|---|---|---|
| 2026 | Breach of fiduciary duty related to corporate bond investments | Raymond James & Associates | Denied by firm | $186,805.40 |
| 2000 | Unauthorized trades | Salomon Smith Barney | Denied by firm | Unspecified |
In both instances, the firms denied the client complaints. No regulatory action or formal arbitration arose from either case, but serious allegations—especially claims of breach of fiduciary duty and unauthorized trading—always warrant careful review for any investor considering or currently working with the advisor.
Understanding Fiduciary Duty & Compliance Standards
Financial advisors such as Rick Umbarger—especially those who act as both broker and investment advisor—are bound by strict fiduciary duty requirements under federal law. This means:
- They must always put clients’ interests ahead of their own
- They are obligated to make full and fair disclosure of any conflicts of interest
- They must provide recommendations and advice designed to meet their client’s needs and objectives, not their own compensation
Regulation Best Interest further underscores the obligation of brokers to disclose all relevant conflicts and act in the best interest of each client at the time of a recommendation. If a client feels this standard is not being met, they have a right to seek review and recourse.
Rick Umbarger’s Regulatory and Legal Record: What Public Records Show
Other than the two investor complaints, public records show no pending regulatory actions, civil lawsuits, or SEC orders against Rick Umbarger. Searches of federal and state dockets, as well as the main regulatory enforcement databases, yield no further findings:
- No disclosed regulatory sanctions or fines
- No criminal, bankruptcy, or financial distress events reported
- No terminated-for-cause disclosures
- No adverse press or media coverage relating to investor harm
These findings are accurate as of the most recently available public data, but investors should always remain proactive in monitoring their advisor’s record for any changes.
Potential Red Flags: Reading Between the Lines
While customer complaints are not the same as disciplinary actions or findings of liability, they do highlight moments where clients felt compelled to report a dispute. Key points to consider:
- Breach of fiduciary duty is a significant allegation and deserves careful attention, even when denied by the firm.
- The recurrence of complaints—despite their age or resolution—may indicate the need for closer scrutiny of patterns.
It’s important to understand that even denied complaints signal that investor concerns rose to a notable level. If you have experienced unsatisfactory investment performance or questionable sales practices, discussing your options with a professional can be critical.
How to Monitor Your Advisor’s Record
Keeping tabs on your advisor’s professional background is a healthy investor habit. Here’s a quick playbook to help you:
- Check BrokerCheck: Visit FINRA BrokerCheck and search for “Rick Umbarger” or CRD 3132496. Review the “Disclosures” section for new complaints or regulatory actions.
- Follow SEC Enforcement News: Watch for any new matters using the SEC litigation search tool.
- Review Court Records: Monitor state and federal docket systems for lawsuits.
- Set Web Alerts: Stay current with news alerts for Rick Umbarger and Raymond James & Associates.
- Check Regularly: Revisit BrokerCheck and major regulatory sites at least every quarter. Sign up for FINRA email alerts for ongoing updates.
If You Have Questions or Concerns
Haselkorn & Thibaut, with 50+ years’ combined experience, a 98% success rate, and millions recovered for investors, offers a no-obligation, confidential case review for clients of Rick Umbarger and Raymond James & Associates. You pay no fees unless your recovery is successful—truly “no recovery, no fee.”
If you are a current or former client and have suffered losses, experienced unsuitable investment recommendations, or simply want peace of mind about your portfolio, call Haselkorn & Thibaut today at 1-888-885-7162 for your free consultation.
It costs nothing to discuss your concerns. Your financial security deserves protecting.
