LPL Financial Fined Over Advisor’s Fraud
LPL Financial was recently fined and sanctioned by the State of New Hampshire in connection with Dain Stokes’s fraud. According to the consent order: Dain Stokes was a representative at LPL from June 2009 until August 28, 2019. Stokes solicited LPL clients to invest in unsecured promissory notes. He told his clients that the notes […]
LPL Financial Fined Following AML Complaint
In response to a complaint filed by the SEC, LPL Financial has agreed to pay more than $4.8 million dollars in fines and restitution to the Municipality of Mayaguez, Puerto Rico in connection with antifraud violations by Eugenio Garcia Jimenez, Jr., an unregistered investment adviser not affiliated with LPL. According to the order issued by […]
Michael Barranco Involved in $3.2 Million Investor Complaint
Michael Barranco (CRD# 4825738) is involved in a $3.2 million dispute. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report, accessed on November 27, 2021, Mr. Barranco was previously registered as a broker with LPL Financial in Montgomery, Alabama. He is currently registered as an investment adviser with Invista Advisors in Montgomery, according to […]
LPL Financial Fined $6.5 Million By FINRA
FINRA fined LPL Financial $6.5 million in December 2020. The fine relates to conduct that occurred from January 2014 to September 2019. Did You Lose Money Investing With LPL Financial? Notice: JavaScript is required for this content. Print this Article
Robert Alvarez Fined by the State of Louisiana Over Dishonest Practices
Robert Alvarez (CRD #: 2242198), an investment adviser registered with International Assets Advisory, was fined by the State of Louisiana, according to his BrokerCheck record, accessed on November 10, 2021. September 21, 2020: State Alleges Robert Alvarez Engaged in “Dishonest Practices” On September 21, 2020, the State of Louisiana imposed a civil fine, following allegations […]
Investor Files Complaint over LPL rep James Frawley’s Option Trades
James Frawley (CRD #: 2867752), a broker registered with LPL Financial in Santa Monica, California, is involved in an investor dispute, according to his BrokerCheck record, accessed on November 10, 2021. Details of the dispute are provided below. On January 21, 2021, an investor alleged that Jim Frawley misrepresented options trades. Options trading is a […]
Ex-LPL Broker Kevin McCallum Suspended by FINRA
Kevin McCallum (CRD# 2222586), formerly an LPL Financial broker based in Birmingham, has been suspended by FINRA, according to Financial Industry Regulatory Authority (FINRA) records accessed on November 2, 2021. Records show that he is also the recipient of numerous resolved or pending customer disputes. The investor advocates at MDF Law are interested in hearing […]
Colorado Based LPL Rep Kim Kennedy Involved in Two Pending Arbitrations
Kimberly Kennedy (CRD# 1487140), the Denver-based LPL Financial broker, allegedly recommended unsuitable investments, according to Financial Industry Regulatory Authority (FINRA) records accessed on November 2, 2021. The complaints seek as much as $735,000 in cumulative damages. If you have complaints regarding Ms. Kennedy, call MDF Law at 800-767-8040 for a free consultation. You may be […]
LPL Financial Investor Complaint Information
Investors wishing to file complaints against LPL Financial can do so before FINRA. LPL Financial LLC is a broker-dealer firm with its primary offices located in South Carolina. It is registered with the SEC and FINRA (Financial Industry Regulatory Authority), and has licenses in 53 states and U.S. territories. Its CRD Number (Central Registration Depository […]
Mazi Monshi Embroiled in $3.9 Million Dispute with LPL Client
Mazi Monshi (CRD #: 2629721), a broker registered with IFP Securities, has a new disclosure on his BrokerCheck record, accessed on November 3, 2021. For more information regarding his previous investor disputes, keep reading. Investor Alleges REITs and BDCs were Unsuitable On September 9, 2020, clients alleged that Mazi Monshi recommended unsuitable investments in a […]