Stoltmann Law Offices is investigating Roger Zullo, an advisor at LPL Financial in Boston, Massachusetts. The state alleged that Zullo “defrauded his clients, lied to his supervisors, and fabricated client financial suitability profiles, in order to enrich himself and LPL by selling scores of identical, unsuitable, illiquid and high-commission variable annuities.” The state also alleged that he engaged in annuity switching, or the recommendation that clients liquidate one variable annuity to invest in another, at the expense of his customers. Zullo and LPL also allegedly received over $1.8 million in commissions from selling the variable annuities, mostly from Polaris Platinum III variable annuities. Massachusetts also alleged that LPL ignored warnings and red flags and failed to adequately supervise him. These are all against securities rules and regulations.
According to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Mr. Zullo was registered with Guardian Investor Services Corp in New York, New York from November 1988 until May 1999 and Park Avenue Securities in New York from May 1999 until August 2004. He is currently registered with LPL in Boston, Massachusetts and has been since August 2004. Please call our securities law firm today at 312-332-4200 if you suffered losses with Mr. Zullo. You may be able to bring a claim against his firm, LPL, for those losses. The call is free with no obligation. We take cases on a contingency fee basis only.