LPL Financial, LLC Investor Attorney
Gana LLP helps clients determine if their investment losses with brokerage firms, such as LPL Financial were the result misconduct by the firm. When clients first retain us, many of them have suffered substantial losses to their portfolios that they cannot understand. We can help investors recoup their losses. Our firm applies a detailed and forensic methodology to understanding investment losses as well as the applicable law to hold the wrongful party accountable.
LPL Financial is the largest independent financial advisor in the United States. LPL Financial was formed in 1989 through the merger of Linsco and Private Ledger and has since expanded its number of independent financial advisors from a few hundred to more than 13,300 as of 2012. LPL Financial's main offices are in Boston, Charlotte, and San Diego.
LPL Financial - By the Numbers:
- CRD# 6413
- SEC# 8-17668
- 4.3 million funded accounts
- 13,377 financial advisors
- Approximately 4,500 technology, custody, and clearing service subscribers
- Approximately 700 financial institution partners
- $394 billion in advisory and brokerage assets
- 44 Regulatory Events
- 45 Customer Complaints
LPL Financial - In the News:
FINRA Disciplinary Action No. 2012032218001 - FINRA alleged that from 2007 to 2013, LPL's email retention systems failed to meet its obligations to supervise its representatives and respond to regulatory requests. FINRA found that the firm suffered at least 35 significant failures that prevented it from accessing hundreds of millions of emails and reviewing tens of millions of emails.
FINRA Disciplinary Action No. 2010021545201 - FINRA alleged that between March 2005, and March 2010, the LPL representatives aired approximately 520 shows on a particular radio station that discussed financial issues and investments. FINRA found that during that five-year period, the LPL Financial failed to request or review copies or transcripts of the broadcasts.
FINRA Disciplinary Action No. 2009017682701 - FINRA alleged that from October 2008 until October 2009, LPL registered representatives entered orders for approximately 15% of the LPL Financial's variable annuity exchange transactions using the proper system to monitor the transactions. As a result, FINRA found that LPL Financial failed to enforce its written supervisory procedures relating to variable annuity exchange transactions.
Gana LLP has successfully resolved hundreds of securities arbitrations through verdict or settlement. We represent individuals and institutions throughout the United States in disputes with their brokerage firm and financial advisors. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free of charge and the firm is only compensated if you recover.