Matthew Jon Lum of Santa Barbara California a stockbroker formerly registered with Girard Securities Inc. is the subject of a customer initiated investment related civil action in the Superior Court of California in which the customer requested $310,000.00 in damages supported by accusations that (1) the customer’s brokerage account was administered negligently (2) fiduciary obligations to the customer had been violated (3) false or misleading statements were made to the customer and (4) the customer had been defrauded in regard to the real estate security, oil and gas and direct investments sold to the customer during the time Lum was associated with Girard Securities Inc. Civil Action No. 16CV05818 (Nov. 7, 2017).

FINRA Public Disclosure confirms that Lum is referenced in three more customer initiated investment related disputes which pertain to allegations of Lum’s improper conduct while he was associated with Girard Securities Inc. Specifically, a customer filed an investment related arbitration claim regarding Lum’s conduct where the customer sought $290,000.00 in damages founded on accusations that while Lum was employed by Girard Securities Inc., Lum placed the customer in investments, including oil and gas, mutual fund, and direct participation program interests or limited partnership interests, that were in no way appropriate for the customer.

Moreover, a customer initiated investment related arbitration claim involving Lum’s conduct was resolved for $615,000.00 in damages based upon allegations that transactions executed in the customer’s account were inappropriate for the customer; misrepresentations had been made to the customer; and the customer’s investment account was handled with poor care in regard to a securities loan product or direct investment transaction executed while Lum was registered with Girard Securities Inc. FINRA Arbitration No. 14-03788 (July 26, 2016).

Lum’s registration with Girard Securities Inc. has been terminated as of November 1, 2017. He has been employed by Cetera Advisor Networks LLC since November 1, 2017.

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