LPL Sued For Bad BDC Recommendations
Galen Kyle Kopman of Vancouver Washington a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related arbitration claim where the customer requested $160,000.00 in damages based upon accusations that (1) unfounded statements and omissions had been made by Kopman in regards to risks of direct investments including business development companies and (2) Kopman advised the customer to buy business development company products that failed to be suitable because they were not consistent with the customer’s needs and objectives. FINRA Arbitration No. 19-02900 (Sept. 26, 2019).
FINRA Public Disclosure additionally confirms that Kopman is referenced in a customer initiated investment related complaint filed on July 5, 2016 in which the customer sought $172,283.00 in damages supported by allegations of bad investment advice being provided by Kopman in regards to real estate securities that the stockbroker sold; and documents being forged in order to effect customer transactions during the time that he was employed by LPL Financial LLC.
Kopman was subsequently registered with Centaurus Financial Inc. until May 23, 2018.