Andrew Ahrens and LPL Financial: Loss Recovery Options for Investors

Stoltmann Law Offices is investigating Andrew Ahrens, a former LPL financial advisor currently with Ahrens Investment Partners in Lafayette, Louisiana. Ahrens was sent a Wells Notice, which is a letter that the U.S. Securities and Exchange Commission (SEC) sends to people or firms when it is planning to bring an enforcement action against them. This comes after the Financial Industry Regulatory Authority (FINRA) began an investigation into whether consolidated reports he provided to his clients “contained information that was incorrect.” His clients who requested the consolidated reports were told that Ahrens provided limited additional information meant to complement, not replace, the required reporting from LPL. Ahrens was fired from the firm in August, the same month the Wells Notice was issued. He had been with LPL since 1998. According to his BrokerCheck report on FINRA’s website, Ahrens claims against him include unsuitable investments in real estate investment trusts (REITs) breach of contract, breach of fiduciary duty, negligence, misrepresentation, failure to supervise and violation of certain state and federal statutes with respect to REIT investments.

Ahrens (whose full name is Garrett A. Ahrens) was registered with Edward Jones in St. Louis, Missouri from October 1989 until September 1996, Balentine & Company in Atlanta, Georgia from September 1996 until June 1998, and LPL Financial in Lafayette, Louisiana from June 1998 until August 2015. He has eight customer disputes filed against him. If you invested money with Andrew Ahrens and LPL Financial, please call our securities law offices based in Chicago, Illinois to speak with an attorney. Our number is 312-332-4200. The call is free with no obligation. Ahrens’ former firm, LPL Financial, may be liable for your investment losses because they had a duty to properly supervise him while he was employed with them. Because they did not, they can be sued in the FINRA arbitration forum to recover financial losses suffered with Andrew Ahrens.

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