Concorde Investment Services, a national broker-dealer, has recently found itself in the spotlight due to a series of investor allegations involving one of its brokers, Ehud Gersten. Based in Ann Arbor, Michigan, Ehud Gersten is currently a registered broker with Concorde Investment Services and manages client assets through his role as the managing partner of Perch Wealth. Yet, as of January 24, 2026, three separate investor complaints, totaling nearly $1.8 million in claimed damages, have raised serious concerns about his professional conduct and judgment.
Overview of Allegations Against Ehud Gersten
Trust is fundamental in the advisor-client relationship, particularly when large amounts of money and the promise of a secure financial future are involved. The investors who trusted Ehud Gersten now face substantial financial uncertainty after filing complaints alleging unsuitable investment recommendations, negligence, misrepresentation, and breaches of fiduciary duty.
| Date Filed | Affiliated Firm(s) | Allegations | Damages Claimed | Status |
|---|---|---|---|---|
| November 2025 | Emerson Equity | Unsuitable investments, misleading recommendations, Reg BI violation | $1,083,919 | Pending |
| 2025 | Arkadios Capital, Emerson Equity | Negligence, breach of fiduciary duty | $100,000 | Pending |
| November 2025 | Arkadios Capital | Unsuitable recommendations, breach of fiduciary duty | $600,000 | Pending |
All three cases remain unresolved, with no final judgment or settlement as of this writing. The pattern of allegations, however, highlights issues that are unfortunately not rare in the industry and underscores the importance of vigilance for anyone working with a financial professional. More information about these complaints can be found on FINRA BrokerCheck (CRD# 7066119).
Ehud Gersten: Career Background and Actions
Ehud Gersten began working in the securities industry six years ago—a relatively short career span in a field where many brokers build decades-long reputations. Since August 2025, he has been registered with Concorde Investment Services while serving clients as the managing partner of Perch Wealth. Before joining Concorde, his resume includes registrations with several other broker-dealers:
- Realta Equities
- Arkadios Capital
- Emerson Equity
- Growth Capital Service
- WealthForge Securities
- Stax Capital
- LightPath Capital
This frequent movement—seven firms in just six years—is above the industry average. Although changing firms is not inherently problematic, such activity may signal instability or underlying issues, especially when combined with client complaints. According to a recent Investopedia analysis, investors are advised to be cautious if their advisor displays patterns of switching firms or has multiple investor complaints.
Ehud Gersten holds several securities licenses, including the SIE, Series 3, Series 7TO, Series 63, and Series 66, and he is licensed to do business in at least fourteen states ranging from Alabama and California to Washington and Texas. Still, licensing and credentials do not guarantee ethical conduct, as numerous cases of investment fraud—exceeding $3.8 billion in losses reported in the U.S. in 2023 according to the FBI—have involved fully registered professionals.
Investor Complaints: An In-Depth Look
The most recent investor complaint against Ehud Gersten alleges damages exceeding $1 million. The claim, filed in November 2025, asserts that while registered with Emerson Equity, Gersten recommended investments that did not align with the customer’s goals and misrepresented critical information. Specifically, the complaint references violations of Regulation Best Interest (Reg BI), including allegedly omitting or misrepresenting material facts about the strategy and investments recommended.
Additional claims allege negligence and breach of fiduciary duty during Gersten’s time at both Arkadios Capital and Emerson Equity, with another investor seeking $100,000 in damages. A third claim points to similar allegations during his tenure at Arkadios Capital, related to $600,000 in losses. While these are allegations and not proven instances of wrongdoing, the fact pattern should prompt investors to pause and consider how they vet and monitor their financial professionals.
Regulation Best Interest: What Every Investor Should Know
Many of the claims against Ehud Gersten focus on potential violations of Regulation Best Interest, more commonly known as Reg BI. Instituted by the SEC in June 2020, Reg BI requires that broker-dealers act in the best interest of retail clients when making investment recommendations and avoid placing their own financial interests ahead of the customer’s. For details, see the official SEC summary.
Key Reg BI duties include:
- Disclosing all material conflicts of interest
- Exercising reasonable diligence, care, and skill when making recommendations
- Designing firm procedures to prevent violations and monitor compliance
When investors suspect that a broker’s recommendations are more beneficial to the advisor than to themselves, this can lead to significant losses. FINRA’s suitability rule (Rule 2111) requires not only that recommendations fit a basic profile, but also that they specifically suit the investor’s current situation, objectives, and risk tolerance. According to a study published in Forbes, roughly 7% of U.S. financial advisors have misconduct records, yet many clients trust them without conducting background checks.
Spotting Bad Financial Advice and Red Flags
Investment fraud and poor advice often stem from seemingly minor lapses in disclosure or suitability standards. Examples from recent history—such as the cases against unscrupulous brokers implicated in high-profile ponzi schemes—reinforce the importance of independent verification. Telltale signs include:
- Frequent firm changes: While the advisor may justify moves due to “better opportunities,” excessive job-hopping can indicate red flags.
- Complex or hard-to-understand investments: Genuine advisors should provide clear, comprehensible explanations of what they recommend.
- Reluctance to provide details in writing: Transparency is key; any unwillingness to document advice or dealings can signal potential issues.
- Pressure to act quickly: High-pressure tactics are often employed to prevent clients from scrutinizing investments or seeking a second opinion.
- Recommendations that appear more lucrative for the advisor: Always inquire about commissions, fees, and potential conflicts of interest.
To learn more about vetting financial advisors and protecting your investments, you can also visit Financial Advisor Complaints for practical tips and resources.
Consequences for Advisors and Lessons for Investors
It’s important to emphasize: The complaints against Ehud Gersten are still pending. He is presumed innocent unless and until a regulatory body or court determines otherwise. If any allegations are substantiated, possible consequences could include fines, restitution to clients,
Correction or Updated Info Needed? The information in this article includes the publisher's opinion and is based on publicly available materials believed to be accurate at the time of publication.
We welcome updates. If you have personal knowledge of additional facts or details related to any issues or individuals, and you believe that information would enhance the accuracy of the article, don't hesitate to get in touch with us https://financialadvisorcomplaints.com/article-correction-update/ and provide you name, address, email, and telephone contact for follow-up reporting, along with the back-up for any updates. The publisher strives to provide the most up-to-date and most accurate report regarding all issues and events, and welcomes input from any individuals with personal knowledge.
DISCLAIMER: The information herein is derived from public sources and is provided "as is" without warranty of any kind. Legal matters may have subsequent developments, and market values may fluctuate. While we strive for accuracy, we make no representations about the completeness or reliability of this information. Readers should independently verify all content and seek professional advice as needed.
