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Erez Law Investigates Claims Related to Cory Ryan Burnell and LPL Financial LLC

Posted on Monday, February 27th, 2017 at 12:52 pm    

Erez Law is currently investigating LPL Financial LLC financial advisor Cory Ryan Burnell (CRD# 3260340) regarding unsuitable recommendations to invest in inverse exchange-traded funds (Inverse ETFs). Burnell was registered with LPL Financial in Valley Springs, California from 2007 to 2015. Burnell is no longer registered with any brokerage firm.

Inverse ETFs use short selling and other advanced investment techniques to profit from a decline in the value of an underlying benchmark. Inverse ETFs are publicly traded on the stock exchange and are subject to the trading risks of those stocks. These funds can allow investors to magnify their returns on investments, but they should be used with caution and by professional traders.

Burnell has been the subject of six customer complaints between 2015 and 2016, according to his CRD report:

December 2016. “Customers allege that the financial advisor made unsuitable recommendations to invest in inverse leveraged exchange traded funds.” The customer seeks $1.2 million in damages.

December 2015. “Customer alleges that the financial advisor made unsuitable recommendations to invest in leveraged exchange traded funds.” The customer seeks $75,000 in damages.

November 2015. “Customers allege that the financial advisor made unsuitable recommendations to invest in leveraged exchange traded funds.” The customer seeks $25,000 in damages.

November 2015. “Customer alleges that the financial advisor made unsuitable recommendations to invest in leveraged exchange traded funds.” The customer seeks $130,000 in damages.

October 2015. “Customers allege that the financial advisor made unsuitable recommendations to invest in leveraged exchange traded funds.” The customer seeks $230,000 in damages.

October 2015. “Customer alleges that the financial advisor made unsuitable recommendations to invest in leveraged exchange traded funds.” The customer seeks $300,000 in damages.

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 may be liable for investment or other losses suffered by Burnell’s customers.

Erez Law represents investors in the United States for claims against LPL Financial LLC financial advisor Cory Ryan Burnell, who is alleged to make unsuitable recommendations to invest in inverse exchange traded funds. If you were a client of LPL Financial LLC financial advisor Cory Ryan Burnell or another firm, and have experienced investment losses, please call us at 888-840-1571 or complete our contact form. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies.