FINRA Arbitration Claims Against Gerard A. Fagnant and LPL

Did you suffer investment losses with Gerard A. Fagnant, formerly with LPL Financial? If so, our securities attorneys may be able to help you recover your investment losses in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis. Please call our Chicago-based firm today at 312-332-4200 to speak to one of our attorneys about your options. We sue firms such as LPL for not properly supervising their brokers. According to his Letter of Acceptance, Waiver and Consent (AWC) with FINRA, Gerard improperly accepted five loans totaling $325,000 from two firm customers when he was registered with LPL Financial from June 2013 until September 2014. His customers liquidated approximately $281,203 worth of securities on three occasions in June 2013, May 2014 and August 2014, which resulted in the near depletion of the customers’ brokerage account. For this, he was barred from the securities industry by FINRA.

Fagnant was registered with IDS Life Insurance Company in Minneapolis, Minnesota from October 1988 until July 2006, Ameriprise Financial Services in Leominster, Massachusetts from October 1988 until November 2011 and LPL In Leominster from November 2011 until April 2015. He has two customer disputes against him, one of which is currently pending. He is not licensed within the industry and has been permanently barred, according to his online FINRA BrokerCheck report.

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