Luke Lannister Allegedly Churned Investments


Luke Lannister (CRD# 6317373), formerly a broker registered with Grove Point Investments, churned investments and made unauthorized trades, according to an investor dispute. MDF Law is investigating the former Rockville, Maryland-based financial professional for similar conduct. Contact us immediately if you have concerns about your accounts.

To learn more about the allegations against Mr. Lannister, continue reading this post. The information herein is based on a December 19, 2023 review of his Financial Industry Regulatory Authority (FINRA) BrokerCheck profile.

Grove Point Fired Luke Lannister, Alleged Excessive Commissions

On November 28, 2023, Grove Point Investments disclosed its firing of Mr. Lannister. According to the disclosure, the firm terminated him over allegations of “excessive commissions” and “unapproved discretionary trading.” 

Pending Disputes Allege Unauthorized Trading, Churning

In 2022 and 2023, two parties of investors filed disputes involving Mr. Lannister that remain pending. The disputes list allegations of misrepresentation, unapproved discretionary trading, and churning. One concerns equity investments, while the other relates to a variable annuity. They seek cumulative damages of $188,000.

Lannister Defends Against Allegations

Mr. Lannister issued a “Broker Comment” regarding one of the pending complaints’ allegations: that he misrepresented a variable annuity rider. In this comment, he wrote that he believed the investment met the client’s financial needs and objectives. “I adhere to regulatory standards and guidelines and take my responsibility to my clients seriously,” he said, asserting that he made no inappropriate guarantees to the client. “These allegations have been made only after my departure from my previous Firm and, I believe, are a result of the lack of service, care and attention to the client’s needs, subsequent to my departure.”

Past Dispute Alleged Unsuitable Stocks

In July 2023, another investor lodged a dispute involving Mr. Lannister. This dispute alleged that he made unapproved discretionary trades in unsuitable stocks. His former member firm settled the dispute for $23,000.

“I do not agree with the allegations made by the client,” Mr. Lannister wrote in a “Broker Comment” regarding the settled dispute. He asserted that the client signed all necessary paperwork, expressly consented to the trades, and “made a sizeable gross return in relation to trade commissions.”

FINRA: Lannister Last based in Rockville, Maryland

Luke Lannister started his career as a broker in 2014, when he joined NFP Advisor Services in Bethesda, Maryland. He left the firm in 2015 for Capital One Investing, where he remained until he joined CUSO Financial Services in 2016. In 2021, he left CUSO for Grove Point Investments’ office in Rockville, Maryland, where he remained until his firing in 2023. With eight years of experience as a broker, he has completed four industry exams, including the Series 65 and the Series 63. He has not registered with any broker-dealer or advisory firm since leaving Grove Point Investments.

Investment Complaints? MDF Law Can Help

If you lost money on unauthorized, excessive, or unsuitable trades made by Luke Lannister, you may have recovery options. The dedicated attorneys at MDF Law have lengthy experience advocating for investment fraud victims, using their expertise to guide clients through the complexities of the FINRA arbitration process. We take cases on a contingency basis, which means our clients only pay a fee if they win. Call 800-767-8040 for a free consultation today. 

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