Investors Sue LPL Financial For Breach Of Fiduciary Duty

Financial Arbitration

Samuel Izaguirre of Miami Lakes Florida a stockbroker currently employed by LPL Financial LLC has been identified in a customer initiated investment related arbitration claim where the customer sought $93,000.00 in damages based upon accusations that (1) Izaguirre lacked appropriate supervision from the securities broker dealer concerning his real estate securities transactions (2) information relating to Izaguirre’s real estate security transactions had been misrepresented (3) a contract for the customer’s investments was breached (4) a fiduciary duty was not complied with (5) FINRA rules were violated and (6) negligence on Izaguirre or LPL Financial’s part resulted in the customer’s losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02321 (Aug. 15, 2019).

This is not the first time that Izaguirre has been referenced in a customer initiated investment related dispute pertaining to allegations of his bad business practices in the securities industry. FINRA Public Disclosure indicates that Izaguirre is also referenced in a customer initiated investment related complaint which was settled for $10,949.00 in damages supported by allegations that misrepresentations were made by the stockbroker in regard to mutual funds that he sold while employed by Chase Investment Services Corp.

Izaguirre has been registered with LPL Financial since February 1, 2011.