Investor Alert: LPL Financial LLC financial advisor Thomas Oliphint
Posted on Thursday, November 2nd, 2017 at 1:54 pm
Erez Law is currently investigating LPL Financial LLC financial advisor Thomas Oliphint (CRD# 1172870) regarding outside business activities. Oliphint was registered with LPL Financial LLC in San Antonio, Texas from 2006 until December 2016 after he was terminated regarding, “Violation of Firm policy regarding outside business activities. He is not currently registered with any brokerage firm.
Oliphint has been the subject of two customer complaints in 2002 and 2005, one of which was closed and one was denied, according to his CRD report. Both complaints were regarding the sale of class B shares that Oliphint allegedly sold the customers, when class A shares with lower management fees were available.
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 Oliphint’s customers.
Erez Law represents investors in the United States for claims against LPL Financial LLC financial advisor Thomas Oliphint, who is alleged to participate in outside business activities away from his member firm. If you were a client of LPL Financial LLC or another firm, and 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.