Last Updated: April 2024
LPL Financial Investigation Summary
Here’s what you need to know about Fort Mill, SC, headquartered brokerage firm LPL Financial:
- Name: LPL Financial LLC
- Function: Stock Brokerage Firm / Financial Advisory Firm
- Location: Over 13,000 offices nationwide.
- Number of Registered Representatives: Over 21,000
- CRD #6413
- Can LPL Financial LLC be sued in FINRA arbitration: Yes
- Sanctioned by Securities Regulators: Yes- Many times, by state and federal regulators as well as self-regulatory agencies, see below.
- Under common control with Fortigent LLC
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With A Broker Who is Registered with LPL Financial LLC?
Individual stockbrokers/financial advisors (referred to as registered representatives in the industry) are required to be registered with a FINRA registered broker dealer. Often times that broker will operate under a “doing business as” (dba) name rather than under the name of the FINRA registered broker dealer where he or she is registered. For example, broker John Doe may be registered with LPL Financial (or any of the other thousands of FINRA registered broker dealers nationwide) but his financial services business might be known in the local community as John Doe Financial Services or John Doe Investment Planning, etc.
Should you have a claim for stockbroker malpractice, fraud or negligence for the mishandling of your account, the broker dealer where the stockbroker is registered is liable for those losses under theory that a principal is liable for the damages caused by his agents acting within the scope of their employment.
If your LPL Financial broker or financial advisor causes damages due to the mishandling of your account, LPL Financial can be held liable.
See “How to Research Your Broker-What is a CRD?” for instructions on how to access FINRA and SEC regulatory records and learn more about a broker or a broker-dealer firm.
LPL Financial LLC Has A Lengthy History of Regulatory Violations
- LPL Financial has been disciplined numerous times over the years by state and federal securities regulatory agencies, including the Financial Industry Regulatory Authority, the U.S. Securiites & Exchange Commission, and the North American Securities Association (NASAA) for violations of industry rules as well as state and federal securities laws.
- As reflected on their CRD (CRD 6413), LPL Financial has 186 regulatory disclosures on their FINRA record These violations have occurred regularly for many decades and have resulted in many, many millions in fines being assessed, including these recent events:
- The Pennsylvania Department of Banking and Securities assessed a $190,000 in 8/2023 for LPL Financial’s failure to register at least one adviser representative in violation Pennsylvania statutes
- FINRA fined LPL Financial $3,000,000 in July 2023, and required the firm to pay restitution in the amount of $100,000 to resolve allegations that LPL Financial failed to establish and maintain a system to supervise wire transfers and the ability to detect possible instances of forgery or falsification of electronic signatures.
- The US Securities and Exchange Commission fined LPL Financial $750,000, required payment of $4.1 million in restitution, plus interest, for its failure to respond to conflicting information when it opened a customer account and processed wire transfers which allowed a registered representative to misappropriate more than $7 million.
If you would like to review all 186 regulatory sanctions against LPL Financial look at their CRD.
Rex Securities Law Investigations of Registered Representatives Who Have Worked for LPL Financial
- William Addison – Columbia, South Carolina
- Garrett Drew Ahrens – Lafayette, LA
- Renee Altimirano – Hot Springs Village, AR
- Robert Alvarez – Metairie, LA
- Bruce Amman – Golden, CO
- Jason Anderson – Beaumont, TX
- Angela Anello – Needham, MA
- Kenneth Baize – Louisville, KY
- Freddie Barbour – Lynchburg, Virginia
- Steven Barnett – Jacksonville, FL
- Tony Barouti – Los Angeles, CA
- Joao Bastos – Miami Beach, FL
- Rhett Bedwell – Rogers, AR
- Raul Benitez – Aventura, FL
- Mark Bloom – Atlanta, GA
- James Booth – Norwalk, CT
- Bob Boschke – Germain, WI
- Benjamin Bourgeois, Jr. – Metairie, LA
- Brandon Bowman – San Antonio, TX
- Scott Bremus – Dacula, GA
- John Allen Brown – Binghamton, NY
- Brian Brunhaver – Snohomish, WA
- Mark Carey Burns – Chico, CA
- Sonya Camarco – Colorado Springs, CO
- Melvin Case – Jacksonville, FL
- Joseph Cason – Brunswick, GA
- Thomas Cavaliere – Overland Park, KS
- Kathryn Charpie – Overland Park, KS
- Fred Chen – Irvine, CA
- Elio Chiarelli – Gainesville, FL
- Bryan J. Clark – Atascadero, CA
- Todd Coates – Tyler, TX
- Patrick Coogan – Baton Rouge, LA
- Joshua Cook – Vernal, UT
- Timothy Connor – Redwood City, CA
- Justin Connors – Cocoa Beach, FL
- Jonathan Cummings – Hurst, TX
- Eileen Law Cure – Nederland, TX
- Jeff Craig Dargatz – Dallas, TX
- Dominic DeBruin – Mesa, AZ
- John Demertzis – East Setauket, NY
- William Dendy – Dallas/Tyler, TX
- Marty Dennis – Springdale, AR
- Kiran Devarapalli – East Brunswick, NJ
- Richard Deyoung – The Woodlands, TX
- Daniel Dillard – Austin, TX
- Francis Dougherty – Margate, NJ
- John Dougherty – Conshohocken/ Blue Bell, PA
- Bryan Eberle – Marlton, NJ
- Charles Elhoff – Arlington, TX
- Brian Everett – Dallas, TX
- Charles Caleb Fackrell – Booneville, North Carolina
- Gregg Ferguson – Bellville, TX
- Howell G. Ferguson – Bellville, TX
- Barbara Fife – Fishers, IN
- Gina Francisco – Ocala, FL
- Jonathan D. Freeze – Fredericksburg, VA
- Robert Fross – The Villages, Florida
- John Gaffney – Wildwood, FL
- Ian Geeves – Carlsbad, CA
- Michael Graham – El Paso, TX
- Angela Graham-West – Dallas, TX
- Mark Gillelen – Redwood City, CA
- Ronald Gioviono, Jr. – Clearwater, FL
- Marie P. Goforth – San Antonio, FL
- Bradley Goodbread – Roselle, IL
- Christopher Grano – Islandia, NY
- Steve Heath – Newport News, VA
- Mark Chester Hegstrom – Edina, MN
- Edward T. Hill – West End, North Carolina
- Nghi Thanh Ho – Houston, TX
- Brian Hinson – Huntsville, Alabama
- Joey Hobbs – Dallas, TX & Edmond, OK
- Eric Hollifield – Ducala, GA
- Mark Hopkins – Grand Blanc, MI
- Kevin Houser – Center Valley, PA
- Curtis Howard – Sapulpa, OK
- Darren James – Lubbock, TX
- Jeff Cheng Jin – The Woodlands, TX
- James Joly – East Greenwich, RI
- Andrew Keefer – Orlando, FL
- Brent Kesner – Fort Smith, AR
- Scott Klor – Baton Rouge, LA
- Jeff LaBelle – Sarasota, FL
- Matthew Lamb – Melbourne, FL
- Christopher Laws – Alpharetta, GA
- John Brian Lee – Fort Worth, TX
- Joseph Likens – Des Peres, MO
- Keith Thomas Lohm – Pittsburg, PA
- Brandon Long – Roswell, GA
- Brent Lott – Orem, UT
- Chris McFadden – Dallas, TX
- Robert Li – Naperville, IL
- John Locke – Madison, WI
- Enrique Lopez – McAllen, TX
- Marc Lowell – Ft. Lauderdale, FL
- Damon Mapes – Hillsboro, OR
- John Matson – Manhattan Beach, CA
- Brad May – Sandersville, GA
- Steven John Mayer – Alpharetta, GA
- Jeremy J. McGilvrey – San Antonio, TX
- David Melilli – Moorestown, NJ
- Peter Mersberger – Sheboygan Falls, WI
- Bruce Edward Miller – Fort Mill, SC
- Gary Lee Miller – Eau Claire, WI
- Lawrence Miller – Plantation, FL
- Justin Mitchell – Baton Rouge, LA
- Glenn A. Moffitt – Henderson, NV
- Ricky Moore – Angleton, TX
- Tony Moreno – Orlanso, FL
- Michael Mountjoy – Louisville, KY
- Joseph Moyer – Columbus, OH
- David Nastri – Cheshire, CT
- Michael Olinde – Baton Rouge, LA
- Michael O’Meara – Georgetown, TX
- Thomas H. Oliphint – San Antonio, TX
- Bradley Pace – Orlando, FL
- Andrew Pincus – Boca Raton, FL
- Erik C. Pinter – Appleton, WI
- Jason Poff – Houston, TX
- Richard Poston – Plano, TX
- Bill Poulter – Baton Rouge, LA
- Matthew R. Quinn – Cincinnati, OH
- Leon Paul Rehak – Pompano Beach, FL
- Randy Dean Redd – Chandler, AZ
- Eric Jay Reed – Alexandria, LA
- Peter Reinecke – St. Louis, MO
- Ismael Eradio Reyes Retana – Laredo, TX
- Mark Richards – Albuquerque, NM
- David Robinson – Highland Village, TX
- Jimmy Rodriguez – Hockley, TX
- Cody Roos – Kearneysville, West Virginia
- Edward Roos – Cape Coral, FL
- James Rosebrough – Gilbert, AZ
- Andrew Ross – Waltham, MA
- Cecil A. Ross – San Angelo, TX
- Michael Rudio – Atlanta, GA
- Eric Ruthman – Atlanta, GA
- Johnny Rutledge – Matthews, North Carlina
- Lee Rycraft – Watertown, South Dakota
- Steven Sabo – Boulder, Colorado
- Joffre Salazar – Staten Island, NY
- David J. Schmerber – Centerville, OH
- Bradley Scott – Mansfield, TX
- Celia Scott – Beaumont, TX
- Yvonne Silguero – McAllen/Browsville, TX
- Todd Sivak – Oconomowoc, WI
- Sanders Spangler – San Antonio, TX
- Cheryl Stallings – Amarillo, TX
- Thomas Stratton – Melbourne, FL
- Russell Stola – Massapequa, NY
- Nathan Stucky – Lenexa, Kansas
- David Taddeo – La Mesa, CA
- Mark Tauzin – Lafayette, LA
- John Terzis – Skokie, IL
- Mark A. Thompson – Atlanta, GA
- John R. Thompson – Deer Park, TX
- Joseph Trotta – Jupiter, FL
- Jason Valavanis – Melbourne, FL
- Raymond Velasco – Lisle, IL
- David J. Volpe – Scottsdale, AZ
- Joeann Walker – Brockton, MA
- Lance Walston – San Antonio, TX
- George Warner – Horseshoe Bay/ Rockwall, TX
- Donald L. Watson – Sarasota, FL
- Christian Webb – Lakeway, TX
- Stephen Wedel – Naples, FL
- Larry S. Werbel – Chagrin Falls, OH
- Joel Floyd Woods – Fort Worth, TX
- Carl Williams – Peoria, IL
- Scott D. Williams – Franklin, TN
- Curt Wilson – Tulsa, OK
- William Winchester (Bill Woods) – Chattanooga, TN
- Donald S. Woods – Louisville, KY
- Marcos Yanez – Dallas, TX
- Jody Young – Atlanta, GA
- Dean Yurica – Carmichael, CA
- James Zegers – Albany, NY
- Bradley Bergdahl – Cando, North Dakota
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by a broker or financial advisor who works for LPL Financial, contact us for a complimentary consultation with an experience securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
