Our firm is investigating RBC Capital Markets, LLC financial advisor Paul Richard Meyer (CRD# 3062534) of Minnetonka, Minnesota for potential investment-related misconduct.
Financial Advisor’s Career History
According to his BrokerCheck report, Paul Richard Meyer has been registered with RBC Capital Markets, LLC since October 11, 2017. His reported employment/registration history includes:
- RBC Capital Markets, LLC — Financial Advisor (10/2017–Present) (Minnetonka, MN)
- City National Bank (affiliate role) — Employee of an affiliate (06/2018–12/2023) (Minnetonka, MN)
- Morgan Stanley Private Bank, National Association — Financial Advisor (01/2015–10/2017) (New York, NY)
- Morgan Stanley Smith Barney — Mass Transfer (06/2009–10/2017) (Minneapolis, MN)
- Morgan Stanley & Co. Incorporated — Financial Advisor (08/2008–10/2017) (Minneapolis, MN)
- RBC Capital Markets Corporation — Registered (06/1998–08/2008) and Investment Adviser registration (04/2005–08/2008) (Minneapolis, MN)
Paul Richard Meyer Fraud Allegations and Investor Complaints Explained
FINRA’s BrokerCheck report reflects one regulatory event and four customer disputes reported for Paul Richard Meyer.
Disclosures summary (for context):
- FINRA regulatory action (AWC) — Final (Initiated/Resolved: 12/10/2025) — Alleged discretionary trading without written authorization — Suspension (01/05/2026–02/16/2026) and $5,000 fine
- Customer dispute (FINRA arbitration) — Settled (07/26/2023) — Failure to follow instructions re: sale of stocks — Alleged damages: $250,000 — Settlement: $72,500
- Customer complaint — Settled (Status date: 04/14/2023) — Alleged unauthorized trades in August 2022 and poor advice — Alleged damages: $112,594 — Settlement: $20,040.42 (individual contribution listed)
- Customer complaint — Settled (Status date: 05/04/2023) — Alleged poor advice (Feb 2021–Oct 2022) and later unauthorized trading allegation — Alleged damages: $271,000 — Settlement: $100,000 (individual contribution listed)
- Customer complaint — Denied (Status date: 03/15/2023) — Alleged unauthorized trades (July–Aug 2022) and mismanagement — Alleged damages: $5,000
FINRA Regulatory Action (AWC): Discretion Without Written Authorization (December 2025)
FINRA reported a final regulatory action resolved by Acceptance, Waiver & Consent (AWC) on December 10, 2025 (Case No. 2023078776201). FINRA stated that, without admitting or denying the findings, Meyer consented to findings that he exercised discretion without written authorization in connection with trades in customer accounts; FINRA further stated that the firm did not designate the accounts as discretionary and that Meyer did not speak with the customers on the dates of the transactions.
The sanctions listed include a six-week suspension from January 5, 2026 through February 16, 2026, and a $5,000 fine.
Customer Dispute: Alleged Failure to Follow Instructions on Stock Sales (FINRA Arbitration 22-02942)
A customer alleged that the financial advisor failed to follow instructions regarding the sale of stocks (listed equities), with alleged damages of $250,000. The matter was reported as a FINRA arbitration (Docket/Case # 22-02942) and was settled on July 26, 2023 for $72,500.
Customer Dispute: Alleged Unauthorized Trades (August 2022) and Poor Advice (Settled)
Another disclosure states a client alleged the advisor executed unauthorized trades in August 2022 and also provided poor overall advice regarding investments in the portfolio. The disclosure lists alleged damages of $112,594, with a settlement amount of $20,040.42 (and an individual contribution amount also reported).
Customer Dispute: Alleged Poor Advice (Feb 2021–Oct 2022) and Unauthorized Trading Allegation (Settled)
A separate customer complaint alleges the advisor provided poor advice regarding the securities in which the client was invested from February 2021 through October 2022, and the client later alleged trades were executed without authorization. The product type is listed as Equity-OTC, with alleged damages of $271,000; the matter reflects a $100,000 settlement and reports an individual contribution amount. The broker statement notes that on November 22, 2022, the client sent a written communication making the unauthorized trading allegation.
Customer Dispute: Alleged Unauthorized Trades (July–August 2022) and Mismanagement (Denied)
FINRA BrokerCheck also reports a customer complaint alleging unauthorized trades in July and August 2022 and that the accounts were mismanaged, involving an Exchange Traded Fund (ETF), with alleged damages of $5,000. The complaint was received November 16, 2022 and was reported as denied with a status date of March 15, 2023.
To obtain a copy of Paul Richard Meyer’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2510 (Discretionary Accounts) is directly implicated when a broker exercises discretion—such as choosing the timing, price, or security to trade—without the customer’s prior written authorization and without the firm properly approving and designating the account as discretionary. In Meyer’s FINRA AWC, the finding described discretion without written authorization and noted the accounts were not designated discretionary.
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) is commonly cited in matters involving unauthorized trading and failures to follow client instructions, because brokers are expected to observe high standards of commercial honor and just and equitable principles. Customer allegations that a broker executed unauthorized trades or failed to follow instructions—like those reflected in the listed disputes—often raise Rule 2010 concerns.
FINRA Rule 2111 (Suitability) may be relevant where customers allege “poor advice” or portfolio mismanagement, because the rule generally requires that recommendations be suitable in light of the customer’s investment profile. Allegations that an advisor provided poor overall advice or mishandled an account—especially alongside unauthorized trading allegations—can trigger scrutiny of whether recommendations and trading activity matched the investor’s objectives and risk tolerance.
Losing your savings to a dishonest broker or advisor can be devastating, but you do not have to face it alone. Robert Wayne Pearce and his team have spent over four decades helping investors who were misled or defrauded by Wall Street firms. The Law Offices of Robert Wayne Pearce, P.A. takes cases nationwide on a contingency fee basis. You pay nothing unless we recover your losses. Call (800) 732-2889 or email pearce@rwpearce.com today for a free and confidential consultation.
