Todd Sivak Investigation
May 2022- Oconomowoc, WI
According to publicly available records, Todd W. Sivak, an LPL Financial broker discloses pending customer dispute filed during his employment with MML Investors Services.
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.
In D12/2021, FINRA case #21-03082 was filed by a customer of Sivak’s prior employer MML Investor Services, alleging that in March of 2019, Sivak recommended that they invest all their Roth IRA into one mutual fund, which resulted in a 55% loss and that Sivak knew they did not want to take unnecessary risks with their investing. This case is pending. Damage amount is not specified.
Sivak has been employed by LPL Financial since April of 2020. Before that time he was with MML Investors Services from 1/2001-4/2020.
If you had an account with Todd Sivak that suffered losses, you may be entitled to collect damages from his employer. Call to discuss your options.
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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