Two investors, a mother and daughter, were awarded $52,062 by a FINRA arbitration panel after they allegedly received unsuitable recommendations from their LPL broker, Samuel Izaguirre. The investors were only claiming about $9,000 in damages, but because of one of the investor's age and diminished mental capacity, they were awarded treble damages and attorney's fees. Izaguirre is still registered with FINRA and LPL has stood by him, claiming he acted in "good faith." The claims related to advice Izaguirre provide in connection with an IRA account.
If you believe you have been victimized by securities fraud, financial malpractice, or theft by a FINRA registered broker, please call the securities attorneys of the Costello Law Group at (877) 418-0003 for a free consultation.
To read more, please visit: http://wealthmanagement.com/legal/lpl-pay-treble-damages-elderly-client