There are options for customers of Act Advisors investment adviser representative Patrick Latta (CRD# 4395019), who is accused of Individual Retirement Account (IRA) losses. He has been listed as an investment adviser representative with Act Advisors in Asheville, North Carolina, since 2015. He was registered with LPL Financial LLC in Asheville, North Carolina, from 2015 to 2023, and Valic Financial Advisors, Inc. in Durham, North Carolina, from 2001 to 2015.
Patrick Latta Customer Complaints
He has been the subject of two customer complaints, according to his CRD report:
February 2026. “Claimant alleges improper distribution of half of IRA assets to beneficiary upon death of client in September of 2025. Assets were distributed to two named beneficiaries by the custodian in September of 2025. Claimant alleges client intended to update beneficiaries to a single trust beneficiary for claimant’s benefit prior to death and submitted estate and trust documents evidencing that intent in 2022 and 2023, as well as made inquiries in 2025. Mr. Latta was the client’s financial advisor during the period in question. Claimant was client’s wife and was not a client of Mr. Latta’s.” The customer is seeking $443,582.65 in damages, and the case is currently pending. The complaint was regarding mutual fund investment losses, and it took place while he was registered with Act Advisors, LLC.
February 2026. “Claimant alleges claims of breach of fiduciary duty, negligence, failure to supervise, and violations of FINRA Rules 2111, 2010, 2020, 2210 and 3110, among others, against respondent LPL Financial, LLC in connection with the distribution of assets from an IRA to the named beneficiaries upon the death of the client in September of 2025. Claimant alleges that the assets were improperly distributed as they submitted documents evidencing an intent to change the designated beneficiaries in 2022 prior to the client’s death. Mr. Latta was the client’s financial advisor during the period in question. Claimant was client’s wife and was not a client of Mr. Latta’s.” The customer is seeking $500,000 in damages, and the case is currently pending. The complaint was regarding mutual fund investment losses, and it took place while he was registered with LPL Financial LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Act Advisors, LLC may be liable for investment or other losses suffered by Patrick Latta’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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