Erez Law Investigates Barred LPL Financial LLC Broker Eric Hollifield
Posted on Monday, October 18th, 2021 at 6:16 pm
There are options for customers of LPL Financial LLC broker Eric Hollifield (CRD# 3091319)? Hollifield was registered with LPL Financial LLC in Dacula, Georgia from 2016 to 2021, when he was terminated regarding, “Failed to disclose outside business activity to Firm.” Previously, Hollifield was registered with Sterne Agee Financial Services, Inc. in Dacula, Georgia from 2008 to 2016.
In October 2021, FINRA barred Hollifield after he “consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony or to produce the documents and information requested by FINRA in connection with its investigation into Hollifield’s potential conversion of funds from an elderly customer.”
Hollifield has been the subject of one customer complaint, according to his CRD report:
August 2021. “The customer alleges that registered representative misappropriated funds from her account. Activity period: August 2020 to present.” The customer is seeking $1,240,000 in damages and the case is currently pending. The complaint took place while Hollifield 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 Hollifield’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.