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LPL Financial – Fines for Variable Annuities Sales

LPL Financial – Fines for Variable Annuities Sales.
lpl-financialLPL Financial was fined $2,400,000 for failing to properly supervise its stockbrokers in the sale of variable annuities.  LPL Financial failed to adequately train the stockbrokers regarding the available mutual fund classes, and when recommending mutual fund shares, to fully disclose all the fees and breakpoints, and fee structures.  (E112003071801)
LPL Financial fined $3,600,000 for permitting mutual fund revenue sharing for a fee for preferential treatment, including enhanced access to LPL Financial’s stockbrokers, firm meetings, and placement of promotional material on the LPL Financial internal websites.  (CE4050009)
LPL Financial was fined $300,000 for failing to supervise its stockbrokers on variable annuity sales and exchanges.  (EAF040061003).

If you have losses in your account with LPL Financial as your financial advisor, call (888) 986-7199 or write the investment recovery lawyers at StockBrokerLawyer.com for a free no-cost consultation. We can help recover your losses and seek other damages, too.

You can use the email form or chat on StockBrokerLawyer.com You may be entitled to recover your losses. We work on contingency: we are paid only when you are paid. Time is limited; delay is the favorite defense of the brokerage firms. Call 888-986-7199 now to speak to an attorney for a no cost evaluation.


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