Investors Make Claims Against LPL Financial For Alternative Investments

Yvonne Lara Silguero of McAllen Texas a stockbroker currently associated with LPL Financial LLC has been referenced in a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages supported by allegations that a fiduciary duty that was owed to the customer had been breached by Silguero as it pertained to alternative investment sales made during the period in which Silguero was employed by LPL Financial. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02204 (Aug. 9, 2019).

According to the claim, alternative investment transactions were executed in breach of contract by Silguero between July of 2014 and October of 2018. The claim also alleges that misrepresentations and omissions were made by the stockbroker in regard to these investments and that negligence and LPL Financials’ failure to supervise Silguero led the customer to experience losses.

FINRA Public Disclosure also reveals that Silguero is the subject of a customer initiated investment related arbitration claim in which the customer was awarded $864,839.70 in damages based on LPL Financial being found liable on the customer’s claims of sales practice violations including unsuitable investment recommendations, breach of fiduciary duty and breach of contract as it pertained to alternative investments which had been sold to the customer. FINRA Arbitration No. 17-00904 (Nov. 13, 2019).

According to the claim, misrepresentations and omissions were made in regard to non-traded real estate investment trusts and offshore investments. The claim alleges that those investments were unsuitable for the customer in view of the customer’s objectives for investing. The Statement of Claim also alleges violation of Texas State Securities Statutes, Texas Business and Commerce Codes and FINRA rules.

Silguero has been employed by LPL Financial since March 13, 2008.