Tagged with "LPL Financial"

SEC Bars Ex-LPL Broker

Posted on October 27th, 2016 at 8:52 AM
SEC Bars Ex-LPL Broker

Paul Lebel, formerly registered with LPL Financial, was barred by the Securities and Exchange Commission for defrauding four customers by churning their accounts.  

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Merrill Moves to End Commission IRAs

Posted on October 25th, 2016 at 8:56 AM
Merrill Moves to End Commission IRAs

In response to the Department of Labor’s fiduciary rule, which is set to begin on April 10, 2017,  Merrill Lynch has decided to end its commission IRA business.  

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2015 Representative Movement

Posted on October 13th, 2016 at 9:03 AM
2015 Representative Movement

In 2015, wirehouse firms such as UBS Financial, Merrill Lynch, Wells Fargo Advisors and Morgan Stanley, incurred a net loss of 312 reps.

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LPL Standardizes Brokers’ Product Commissions

Posted on September 27th, 2016 at 9:29 AM
LPL Standardizes Brokers’ Product Commissions

LPL Financial is changing the way it pays commissions to its brokers when they sell routine investment products like mutual funds and variable annuities.

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LPL and $775 Million Advisor Part Ways Amid Investigation

Posted on October 8th, 2015 at 9:15 AM
LPL and $775 Million Advisor Part Ways Amid Investigation

LPL Financial and its top Louisiana advisor split ways last month when received the advisor receiving a Wells Notice revealing an investigation by FINRA. Registration data showed that Garrett Ahrens and his firm, Ahrens Investment Partners, left LPL on August 18th.

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Financial Service Firms Engage in Raiding Suit

Posted on August 13th, 2015 at 2:08 PM
Financial Service Firms Engage in Raiding Suit

Two large financial services firms have entered a heated dispute over the poaching of 60 brokers.

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Managers of New York Broker Dealer Plead Guilty in Ponzi Scheme

Posted on May 26th, 2015 at 5:06 PM
Managers of New York Broker Dealer Plead Guilty in Ponzi Scheme

A former New York based broker-dealer, Arjent LLC and its UK-based affiliate, Arjent Limited, were on the edge of insolvency when the company Chairman and CEO Robert P. DePalo, along with Managing Director and co-owner Joshua B. Gladtke, made false representations to investors in an effort to keep both companies afloat and fund DePalo and Gladtke’s extravagant lifestyles. 

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LPL Financial Fined $11.7 Million for Supervisory Failures

Posted on May 12th, 2015 at 11:51 AM
LPL Financial Fined $11.7 Million for Supervisory Failures

FINRA ordered LPL Financial to pay $11.7 million in fines and restitution for the firm’s supervisory failures related to sales of complex products.

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LPL Fined $3.6 million for Nontraded REIT Sales

Posted on April 16th, 2015 at 10:57 AM
LPL Fined $3.6 million for Nontraded REIT Sales

New Hampshire securities regulators fined LPL Financial  $3.6 million for allegedly selling unsuitable real estate investments to elderly clients.

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Former LPL Broker Barred for Outside Business Activity

Posted on April 10th, 2015 at 10:24 AM
Former LPL Broker Barred for Outside Business Activity

A former LPL Financial broker has been permanently barred by FINRA for allegedly borrowing $2.3 million from seven clients to build a vacation rental property in Hawaii.

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