Articles Tagged with LPL Financial

LPL FinancialPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on November 1, 2018 indicate that FINRA has sanctioned LPL Financial in connection to allegations the firm violated rules concerning the reporting of customer complaints as well as rules concerning anti-money laundering procedures. Fitapelli Kurta is interested in hearing from investors who have complaints regarding LPL Financial (CRD# 6413).

According to a FINRA release, FINRA found that LPL Financial failed in its duty “to file or amend registered representatives’ Forms U4 or U5 to disclose dozens of reportable customer complaints.” FINRA alleges specifically that the firm made an overly narrow interpretation of a regulatory requirement that firms report any complaint that contains “a claim for compensatory damages of $5,000 or more,” erroneously taking the phrase “to mean that the firm was not required to report any complaint that did not expressly request compensation,” even if the complaint concerned allegations that resulted in losses of $5,000 or more, and a holistic view of the complaint would make clear that the customer sought compensation. FINRA’s findings state that this incorrect interpretation resulted in the failure to report “at least 31 reportable customer complaints alleging sales practice violations,” as well as the failure to timely amend its representatives’ disclosure forms to reflect “at least 149 customer complaints and other reportable events,” such as judgments, bankruptcy filings, employment terminations, and other actions, whether regulatory, civil or criminal.

FINRA also found that the firm had an “unreasonably designed” anti-money laundering program that resulted in a failure to look into “numerous attempts to gain unauthorized access to electronic systems that could have resulted in the filing of Suspicious Activity Reports.” FINRA’s findings state that this failure resulted from LPL’s use of a chart that gave inaccurate guidance to anti-money laundering employees, ultimately resulting in the firm’s failure to file over 400 such reports.

Scott BurnsPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on October 30, 2018 indicate that former Michigan-based LPL Financial broker/adviser Scott Burns, who has received a customer dispute, was recently terminated from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Burns (CRD# 5140649).

Scott Burns has spent 12 years in the securities industry and was most recently registered as a broker with LPL Financial in Monroe, Michigan (2016-2018). Previous registrations include Fifth Third Securities in Toledo, Ohio (2011-2016); Signator Investors in Toledo, Ohio (2010-2011); UVest Financial Services Group in Flat Rock, Michigan (2009-2010); and Edward Jones in Monroe, Michigan (2006-2009). He has passed four securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on April 1, 2011; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on July 14, 2006; SIE (Securities Industry Essentials Examination), which he obtained on September 5, 2018; and Series 7 (General Securities Representative Examination), which he obtained on July 10, 2006. He is currently not registered as a broker with any state or firm.

According to his BrokerCheck report, he has received one customer complaint and was discharged from his former employer in connection to alleged rule violations.

Mark Lamkin

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on October 26, 2018 indicate that former Kentucky-based LPL Financial broker/adviser Mark Lamkin was recently terminated from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Lamkin (CRD# 2121510).

Mark Lamkin has spent 27 years in the securities industry and was most recently registered with LPL Financial in Louisville, Kentucky (2001-2018). Previous registrations include PNC Brokerage Corporation in Pittsburgh, Pennsylvania (1994-2001); GNA Securities in Richmond, Virginia (1991-1994); Equico Securities in New York, New York (1991); and the Equitable Life Assurance Society of the United States in New York, New York (1991). He has passed six securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on August 1, 2001; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 21, 1991; SIE (Securities Industry Essentials Examination), which he obtained on September 14, 2018; Series 7 (General Securities Representative Examination), which he obtained on June 17, 1994; Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on February 4, 1991; and Series 24 (General Securities Principal Examination), which he obtained on April 20, 2001. He is currently not registered with any state or firm.

According to his BrokerCheck report, Mark Lamkin has received one pending customer complaint, was discharged from a former employer in connection to alleged rule violations, and resigned from another former employer in connection to alleged rule violations.

Jason Urbaniak
Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on February 21, 2018 indicate that Indiana-based LPL Financial broker/adviser Jason Urbaniak has received a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Urbaniak (CRD# 2834829).

Jason Urbaniak has spent 15 years in the securities industry and has been registered with LPL Financial in Crown Point, Indiana since February 2018. Previously he was registered with SII Investments in Crown Point, Indiana. He has passed three securities industry examinations: Series 65 (Uniform Combined State Law Examination), which he obtained on July 31, 2002; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on January 30, 1997; and Series 7 (General Securities Representative Examination), which he obtained on July 24, 2002. He is a registered broker and investment adviser with 16 US states and territories: Arizona, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Massachusetts, Michigan, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, and South Dakota.

According to his BrokerCheck report, he has received one pending customer complaint.

Jens PoulsenPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on December 25, 2017 indicate that former Washington-based LPL Financial broker/adviser Jens Poulsen has received resolved or pending customer disputes and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Poulsen (CRD# 4824573).

Jens Poulsen has spent 12 years in the securities industry and was most recently registered with LPL Financial in Wenatchee, Washington (2006-2016). He was previously registered with Edward Jones in Cashmere, Washington (2004-2006). He has passed three securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on June 12, 2008; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on October 29, 2004; and Series 7 (General Securities Representative Examination), which he obtained on September 7, 2004. He is currently not registered with any state, firm or self-regulatory organization.

According to his BrokerCheck report, he has received one customer complaint and one pending customer complaint.

Bradley GardnerPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 1, 2017 indicate that former California-based LPL Financial broker/adviser Bradley Gardner has received a pending customer dispute, resigned from a former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Gardner (CRD# 4423724).

Bradley Gardner has spent 16 years in the securities industry and was most recently registered with LPL Financial in Fort Bragg, California (2012-2017). Previous registrations include Raymond James Financial Services in Fort Bragg, California (2009-2012); Wells Fargo Advisors Financial Network in Fort Bragg, California (2005-2009); and Edward Jones in St. Louis, Missouri (2001-2005). He has passed four securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on June 23, 2006; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on October 18, 2001; Series 31 (Futures Managed Funds Examination), which he obtained on March 3, 2008; and Series 7 (General Securities Representative Examination), which he obtained on September 5, 2001. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received one customer complaint and one denied customer complaint, and resigned from a former employer in connection to alleged rule violations.

Robert DavisPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on November 13, 2017 indicate that former Indiana-based LPL Financial broker/adviser Robert Davis has received a customer dispute, was discharged from his former employer in connection to alleged rule violations, and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Davis (CRD# 4662922).

Robert Davis has spent 14 years in the securities industry and was most recently registered with LPL Financial in Richmond, Florida (2008-2017). Previous registrations include Wachovia Securities in Richmond, Indiana (2008); and AG Edwards & Sons in Richmond, Indiana (2003-2008). He has passed two securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on July 18, 2003, and Series 7 (General Securities Representative Examination), which he obtained on July 9, 2003. He is currently not registered with any broker-dealer firm.

According to his BrokerCheck report, Robert Davis has received one customer complaint and was discharged from a former employer in connection to alleged rule violations.

Richard YadaPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on November 13, 2017 indicate that former Arkansas-based LPL Financial broker/adviser Richard Yada is involved in a pending customer dispute, was terminated from his former employer in connection to alleged rule violations, and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Yada (CRD# 1077317).

Richard Yada has spent 34 years in the securities industry and was most recently registered with LPL Financial in Little Rock, Arkansas (2009-2017); Citigroup Global Markets in Little Rock, Arkansas (2002-2009); Merrill Lynch in New York, New York (1983-2002); and Structured Shelters Securities (1982-1986). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on December 30, 1993; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 2, 1983; and Series 7 (General Securities Representative Examination), which he obtained on October 16, 1982. He is currently not affiliated with any broker-dealer firm.

According to his BrokerCheck report, he was discharged from a former employer in connection to alleged rule violations and has received a pending customer dispute.

Jordan RiderPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on November 2, 2017 indicate that Kansas-based LPL Financial broker/adviser Jordan Rider has received resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Rider (CRD# 5292169).

Jordan Rider has spent ten years in the securities industry and has been registered with LPL Financial in Overland Park, Kansas since 2010. He was previously registered with MetLife Securities in Overland Park, Kansas (2007-2010). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on September 1, 2009; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on August 1, 2007; Series 7 (General Securities Representative Examination), which he obtained on August 12, 2010; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on July 25, 2007. He is a registered broker and investment adviser with 13 US states and territories: Arizona, California, Colorado, Kansas, Missouri, Nebraska, New Mexico, Ohio, Oklahoma, Oregon, Tennessee, Texas and Washington.

According to his BrokerCheck report, he has received two customer complaints and one pending customer complaint.

Roy WoehrmanPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on August 16, 2017 indicate that California-based LPL Financial broker/adviser Roy Woehrman has been sanctioned by FINRA. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Woehrman (CRD# 2564754).

Roy Woehrman has spent 22 years in the securities industry and has been registered with LPL Financial in Long Beach, California since 2005. Previous registrations include Wachovia Securities in St. Louis, Missouri and Merrill Lynch in New York, New York. He is a registered broker and investment adviser with 17 US states and territories.

According to his BrokerCheck report, Roy Woehrman was recently sanctioned by FINRA.

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