Mark Gillelen Investigation
June 2023-Redwood City, CA
According to publicly available record Mark C. Gillelen, a broker with LPL Financial discloses four prior customer disputes and one pending customer dispute.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Gillelen has four customer disputes while employed by a prior broker dealer:
- Banc of America Investment Services, Inc. customer alleged misrepresentation. The case settled for $825,000.
- Banc of America Investment Services, Inc. customer alleged misrepresentation. The case settled for $525,000.
- Banc of America Investment Services, Inc. customer alleged the customer alleges unsuitable investment recommendations and misrepresentation regarding the customer’s purchases. The case settled for $200,000.
- Banc of America Investment Services, Inc. customer alleges misrepresentation, unauthorized trading and unsuitable investments. The case settled for $625,000.
In FINRA case 23-00387 a First Allied Securities, Inc. customer alleges that Gillelen made unsuitable investment recommendations during the period of January 2018 to June 2021. This case is currently pending.
Gillelen has been employed with LPL Financial Group since 6/2021. He was previously employed with Cetera Investment Advisers, First Allied Advisory Services, Morgan Stanley Smith Barney and Banc of America Investment Service. He discloses a business affiliation with McKinley Financial Group in Redwood Shores, CA.
If you have suffered losses in an account handled by Mark Gillelen contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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