Joseph Patrick Roop

Quick summary on Joseph Patrick Roop

Joseph Patrick “JoePat” Roop, a Charlotte-based financial planner with Belmont Capital Advisors, boasts over 30 years of expertise, but his career is riddled with accusations of misconduct that shred his credibility.

Serial Unsuitability
Seven client disputes, including a $450,000 FINRA claim from 2019, allege Roop peddled unsuitable investments like REITs and oil/gas securities at Kalos Capital (2012-2017). His recommendations, branded as risky and ill-fitting, left clients reeling from losses.

Unlicensed Shenanigans
A 2018 complaint, settled for $90,000, accuses Roop of selling BDCs and real estate securities in Alabama without proper registration (2011-2014). This $100,000 lawsuit exposes a reckless disregard for legal boundaries, costing Kalos dearly.

Fiduciary Failure
Banc of America settled two claims—$25,000 in 2014 and $135,000 later—over Roop’s alleged misrepresentations and excessive trading in options and closed-end funds. Clients charge he breached trust, manipulating facts to line his pockets.

Deceptive Practices
A $17,500 settlement in 2020 ties Roop to misleading claims about GPB Capital and Cottonwood investments at Kalos. His failure to diligentiate—or disclose—risks paints him as a salesman of speculation, not a steward of wealth.

Pattern of Complaints
From 2002-2008, clients across Wachovia, Legg Mason, and Banc of America accused Roop of fraud, negligence, and churning, with settlements like $52,500 at Wells Fargo. His 2008 market crash excuse—clients “unaware of risk”—reeks of deflection.

Roop’s polished persona as a tax-savvy advisor unravels under this barrage of grievances. Terminated by Kalos in 2019, now at Dempsey Lord Smith, he drags a trail of financial wreckage. His “customized” Belmont Capital vision cloaks a broker whose alleged deceit and incompetence have cost clients millions.