Did You Lose Money with Former LPL Financial LLC Broker Maziar Monshi?

LPL Financial LLC

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Erez Law is currently investigating former LPL Financial LLC broker Maziar Monshi (CRD# 2629721) regarding unsuitable investment recommendations. He has been registered with IFP Securities, LLC and Independent Financial Partners in Boca Raton, Florida since 2019. Previously, he was registered with LPL Financial LLC in Boca Raton, Florida from 2016 to 2019. 

Maziar Monshi Customer Complaints

He has been the subject of four customer complaints between 2003 and 2021, according to his CRD report. The most recent complaints are regarding: 

October 2021. “Claimant alleges that certain transactions executed on her behalf were not suitable or excessive and made without Claimant’s authorization. Claimant further alleges that she was asked to sign blank forms and that certain funds were misappropriated or misused by her registered representative/ spouse. Activity period: 5/2016 – 5/2019.” The customer is seeking $600,000 in damages. 

September 2020. “Claimants allege that Maziar Monshi, while associated with LPL from 2006 through 2015 and with AFS from 2015 through 2016 recommended unsuitable investments in a number of REITs and BDCs, as well as other high-commission illiquid investment recommendations.” The customer is seeking $3,900,000 in damages and the case is currently pending. The complaint took place while he was registered with LPL Financial LLC. 

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, LPL Financial LLC may be liable for investment or other losses suffered by Maziar Monshi’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.