Haselkorn & Thibaut Initiates Investigation into Bob Sweet (Robert Harold Sweet) of Independent Financial Group, LLC in El Paso, TX
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If you invested with Robert Harold Sweet (also known as Bob Sweet, CRD #4090608), a financial advisor based in El Paso, Texas, and currently registered with Independent Financial Group, LLC (IFG, FINRA CRD #7717), this report is for you. Haselkorn & Thibaut, a leading national investment fraud law firm with over 50 years of experience, has opened an investigation into Bob Sweet’s handling of client accounts and recent customer complaints.
We understand how important it is to feel secure in your financial future. If you have concerns about your investments or lost money while working with Mr. Sweet, you’re not alone. Haselkorn & Thibaut has a 98% success rate and has recovered millions for clients nationwide. There’s no recovery, no fee. For a free and confidential consultation, call 1-888-994-8066.
Who is Bob Sweet?
| Name | Robert Harold Sweet (also listed as Robert H. Sweet, Bob Sweet) |
| CRD Number | 4090608 |
| Current Firm | Independent Financial Group, LLC, El Paso, TX (Branch: 5675 Woodrow Bean, Suite 13, El Paso, TX 79924) |
| Industry Experience | Registered representative since 2000 with several broker-dealers |
| Licenses | SIE, Series 7, Series 6, Series 65, Series 63 |
| State Registrations | Licensed in 13 U.S. states/territories |
| Other Business Affiliations | Insurance (Freedom Insurance Services), Tax Preparation (Freedom Tax Services), Notary (Freedom Notary Services) in El Paso, TX |
Professional Background & Affiliations
- Independent Financial Group, LLC – Registered broker and adviser since 2016
- Formerly at LPL Financial LLC (12/2010–01/2016)
- Raymond James Financial Services Advisors, Inc. & Raymond James Financial Services, Inc. (02/2009–12/2010)
- Earlier roles at CUNA Brokerage Services, NYLIFE Securities, Waddell & Reed, MetLife Securities, and Metropolitan Life Insurance Company
- Additional professional activities involve insurance, tax preparation, and notary services, all based in El Paso, TX
Complaints, Lawsuits, and Regulatory Actions Against Bob Sweet
Understanding an advisor’s regulatory and disciplinary history is vital before making, or continuing, an investment relationship. Below is a detailed and up-to-date summary of all known regulatory incidents, complaints, and customer disputes involving Bob Sweet:
| Date / Regulatory Body | Incident / Action | Status / Outcome |
|---|---|---|
| August 2025 – FINRA Arbitration | Case No. 25-01732: Customer alleges violation of SEC Regulation Best Interest (Reg BI) concerning recommendations to invest in non-traded REITs while at Raymond James and LPL Financial. Damages Sought: $100,000. |
Arbitration Pending |
| December 2015 – LPL Financial LLC | Discharged for alleged violation of the firm’s signature policy during employment. | Terminated by Firm |
| 1997 – North Dakota Insurance Department | Indefinite suspension of insurance authority for failure to renew license/CE. Resolution: Consent (01/13/1997). |
Suspension resolved |
| 1997 – Minnesota Insurance Department | Two-week suspension for omissions on sales materials. Started: 09/15/1997. Resolution: Consent |
Suspension served |
Current disclosures on FINRA BrokerCheck indicate that Mr. Sweet:
- Is named in an open customer dispute for $100,000 regarding non-traded REIT recommendations
- Was discharged by a prior employer (LPL Financial LLC) for a policy violation
- Has been sanctioned by securities and insurance regulators
For the most current status, see his official FINRA BrokerCheck profile.
Allegations of Unsuitable Investments & Reg BI Concerns
The ongoing FINRA arbitration centers on allegations of recommending non-traded Real Estate Investment Trusts (REITs) and alternative investments that may not have matched the client’s objectives, risk tolerance, or liquidity needs. Non-traded REITs are considered high risk and often illiquid, and they carry higher fees and limited oversight compared to traditional investments.
- Unsuitability – Advisors are required under FINRA Rule 2111 (Suitability) and the more recent SEC Regulation Best Interest to ensure recommended investments fit the client’s needs, risk profile, and circumstances.
- Failure to comply with Best Interest standards may expose clients to excessive risk and loss, and it can result in regulatory action against the advisor and broker-dealer.
Red Flags for Investors
- Customer Complaints – Any active or past customer complaint warrants attention, especially for allegations related to unsuitability or poor investment recommendations.
- Terminations/Discharges – Discharge for policy violations may reflect on an advisor’s compliance with industry rules and firm policies.
- Regulatory Sanctions – Past sanctions, even if resolved, are signals that an advisor has encountered regulatory trouble before.
- Sales of Alternative Investments – Heavy concentration in non-traded REITs, BDCs, or complex products is often a cause for investor concern, due to higher risks, illiquidity, and fees.
- Multiple Business Activities – Involvement in insurance, tax, and notary businesses can create potential conflicts of interest or distractions from client-centric advice.
What to Do If You’ve Suffered Losses with Bob Sweet
If you believe you have lost money with Robert Harold Sweet through unsuitable investment recommendations or if you have questions about how your accounts were managed, it’s critical to act quickly. Complimentary consultations are available, and many investment loss cases are handled on a contingency basis—meaning you pay nothing unless there is a recovery.
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