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

Posted on Tuesday, January 5th, 2021 at 11:48 pm    

LPL Financial LLC

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

Monshi has been the subject of three customer complaints between 2003 and 2020, according to his CRD report. The most recent complaint is regarding: 

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 Monshi 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 Monshi’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.