Matthew Babrick

Matthew Babrick – Unreasonable Promises

Matthew Babrick makes huge claims about his suggested investments which are always false. You shouldn’t trust this man or his subordinates.

Matthew Babrick’s staff makes unreasonable promises to his clients. They make huge claims and make it seem like they will get you great returns. However, they never deliver on those promises. Their huge claims are only to dupe you so you would hire them. That’s because once you start working with a wealth manager, it’s quite difficult to go back. In my opinion, it is very unethical for Matthew’s staff to behave this way. They shouldn’t make false claims about their investments or strategies to their customers. This is totally unjust and shouldn’t go unpunished. Matthew made such a claim only a few times before but he doesn’t indulge in such unethical activities as much as his subordinates do. That’s not to say he never makes these claims. Matthew made such claims to me as well but I didn’t pay much attention to it at that time. Now I know those claims were completely false because the returns haven’t been as great as I was told they would be. 

You shouldn’t work with someone who starts their conversation with a lie. And that’s the biggest reason why I don’t recommend Matthew Babrick or anyone affiliated to him. His staff lies to you through making false claims about the returns you’ll get on your investments. The real estimates and returns are completely different from what they promise. I had heard about such shady tactics before but I never thought I’d be a victim of them. Now I know how poor those scam victims must feel after realizing that they had been ripped off. Matthew’s staff makes bogus claims about the returns I can expect from my investments. Their claims have rarely been true. And especially in uncertain times like these, I suspect many of Matthew’s clients will fall prey to this shady tactic. When you hire an experienced financial advisor, you don’t expect him to be a liar, do you? You expect them to behave ethically and keep your best interests at heart. But to me, it seems like Matthew doesn’t have my best interests at heart. His claims and promises are never close to the truth. It’s obvious to me that his staff lies about the returns I can get from any investment. Matthew is working with First Republic Bank at the time, and I think he is damaging the reputation of that esteemed organization through his false claims. The First Republic Bank should take notice of this review and take action against Matthew. If they don’t do anything, I will send my complaint to FINRA myself. I just want things to go down smoothly and I hope Matthew will notice this client review. 

I have tried to point out his fake claims before but it never works. Matthew and his staff always make it seem like their unreasonable claims are true. They take advantage of the financial illiteracy of their clients. If I knew that most of the promises Matthew made to me were false, I would have never worked with that guy. 

Matthew Babrick and his staff make false claims about their suggested investments. It is highly unethical and immoral. First Republic Bank should take strict action against Matthew for doing so.

About Matthew Babrick

Matthew Babrick is a wealth manager at First Republic Investment Management. He is based in Los Angeles, California. Before joining First Republic, he used to work at Goldman Sachs. He has been working as a wealth manager since 2004. You can understand why I trusted this man’s claims. His credentials can fool anyone into thinking that he’s a legitimate and reliable guy. While in reality, he is a liar who makes false promises to clients so he could get their account. I hate the fact that I trusted this man. There are many financial advisors in LA, I could’ve easily hired someone better than him. But his lies lured me into his trap. I don’t want other people to fall prey to this fraud. That’s why I’ve written this review on Matthew Babrick. If you haven’t worked with him before, then please don’t work with him in the future. Avoid that guy at all costs. 

2.9 Total Score
False claims

Matthew and his staff only make false promises to their clients. They never follow through on their claims and it's obvious they are doing this to trap people. Don't trust anything they say.

3.8Expert Score
Trust
2
Support
3
Reputation
5.5
Experience
4.5
2User's score
Trust
2
Support
2
Reputation
2
Experience
2
CONS
  • Unethical
  • Immoral
  • Liars
  • Deceptive
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1 Comment
  1. 1
    Trust
    20
    Support
    20
    Reputation
    20
    Experience
    20

    I’m not shocked that you received such horrible service from Matthew Babrick. He is notorious and no one with a right mind is going to work with him. He has received official complaints from clients which in total claimed a loss of more than $1.6 Million!

    Here are the details:

    1st Client Complaint (7/10/2020)

    Allegation:
    For the period February 2018 to March 2020, Client alleges, inter alia, the registered representative recommended an unsuitable investment strategy.

    Damage Amount Requested:
    $800,000.00

    Broker Comment:
    The Firm denies the allegations of misconduct by the registered representative.

    2nd Client Complaint (4/29/2020)

    Allegation:
    Client alleges, inter alia, misrepresentation that a margin loan would be an unsecured loan and that an unsuitable strategy was recommended because of commissions.

    Damage Amount Requested:
    $854,000.00

    Broker Comment:

    In March 2020, client requested transfer of his $10 million+ portfolio to another firm. Near market bottom in March, he terminated an independent adviser options strategy, and closing out the positions resulted in losses and a margin debit of $854,000. Client represented he was wiring funds to pay, but never sent the funds. FRSC demanded payment of the margin balance but Client refused to pay, claiming there was a misrepresentation the loan could be unsecured and claiming the strategy was unsuitable and motivated by commissions. After a review, the Firm concluded the complaint was without merit. The account was a wrap account, not commission based, and client had prior experience with the strategy at his firm prior to FRSC.

    - CONS: Misrepresentation Only focuses on commissions rather than the client's benefit Unsuitable Investment Strategy
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