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Former LPL Financial LLC Broker Kevin Fretz Investment Loss Options

Posted on Tuesday, November 3rd, 2020 at 11:00 pm    

LPL Financial LLC

Were you the victim of former LPL Financial LLC broker Kevin Fretz (CRD# 4128808)? Fretz was registered with LPL Financial LLC in South Windsor, Connecticut from 2011 to 2019, when he was terminated regarding, “Representative maintained blank customer signed forms, failed to report customer complaints and failed to follow customer instructions to deposit funds for investments.”

Fretz has been the subject of six customer complaints between 2009 and 2020, one of which was denied, according to his CRD report. Some recent complaints are regarding: 

July 2020. “Claimant alleges that in November 2012 and December 2014 the representative made unsuitable investment recommendations in multiple non-traded Real Estate Investment Trusts (REITs) and continuously misrepresented the REITs’ death put options.” The case is currently pending. 

April 2020. “Customer alleges misrepresentation and unsuitability of a structured note.” The customer sought $94,657.50 in damages and the case was settled for $77,708.25.

March 2020. “Customer alleges misrepresentation and unsuitability.” The customer sought 

$66,000 in damages and the case was settled for $28,194.59. The complaint was regarding real estate securities. 

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 Fretz’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If 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.