James M. Clingensmith and LPL Financial Losses for Investors

Stoltmann Law Offices is investigating James M. Clingensmith, who was a registered representative with LPL Financial in Old Orchard Beach, Maine. Clingensmith was accused of effecting an unauthorized transaction in the account of a client, misrepresenting to his firm that he spoke with the client before effecting the unauthorized transaction and misrepresenting to his firm that he failed to disclose a transaction to two clients. For this, the Maine Office of Securities fined Clingensmith $5,000 and ordered that he be placed on enhanced supervision for two years.

James M. Clingensmith was registered with IDS Life Insurance Company in Minneapolis, Minnesota from November 1991 until July 2006, Ameriprise Financial Services in Old Orchard Beach, Maine from November 1991 until May 2012, Signator Investors in Old Orchard Beach from May 2012 until June 2013 and LPL Financial in Old Orchard Beach from July 2013 until June 2015. He is not currently registered with any firm. He has one customer dispute against him. He is not licensed within the industry.

If you lost money with James M. Clingensmith, please call our securities law office at 312-332-4200 to speak with an attorney. His former firm, LPL Financial, could be liable for investment losses because they had a duty to reasonably supervise him while he was employed there. We sue firms such as LPL Financial in the Financial Industry Regulatory Authority (FINRA) arbitration forum to recover losses for investors. The call is free with no obligation, and we take cases on a contingency fee basis only, which means we only get paid if you do.

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