There are options for customers of LPL Financial LLC broker Eric Hollifield (CRD# 3091319). He was registered with LPL Financial LLC in Dacula, Georgia, from 2016 to 2021, when he was terminated regarding, “Failed to disclose outside business activity to Firm.” Previously, he was registered with Sterne Agee Financial Services, Inc. in Dacula, Georgia, from 2008 to 2016.
He was an investment adviser representative and co-owner of Hamilton Investment Counsel, LLC, an SEC-registered investment adviser based in Dacula, Georgia, since 2016. He was also a registered representative of LPL Financial, LLC, a broker-dealer providing brokerage services to Hamilton Investment Counsel, LLC. He was terminated from Hamilton Investment Counsel, LLC regarding, “failed to disclose outside business activity to firm.”
In September 2021, the state of Georgia sanctioned him to pay a $500,000 civil and administrative penalty and fine and permanently barred him following allegations that he “requested and authorized a transfer of $1,240,000.00 of client’s funds from client’s brokerage account.”
In October 2021, FINRA barred Hollifield after he “consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony or to produce the documents and information requested by FINRA in connection with its investigation into Hollifield’s potential conversion of funds from an elderly customer.”
In June 2022, the Securities and Exchange Commission (SEC) alleges that he “defrauded two advisory clients and one brokerage customer by misappropriating their funds for his personal use. This included misappropriating at least $1.7 million from advisory clients and a brokerage customer in August 2020 that Hollifield used to purchase a home,” according to his BrokerCheck.
In September 2024, he was barred by the SEC. The SEC found that he recommended clients invest in shipping logistics and warehousing services company Century Warehouse, Inc., an entity he controlled or otherwise had account authority over, without disclosing his relationship to or the conflict of interest the investment presented. “According to the complaint, when clients invested in Century, Hollifield often immediately wired a significant portion of investor funds to his own accounts for his personal use. In other instances, the complaint alleges, Hollifield misappropriated client and customer funds through a variety of schemes and used the money to purchase Hollifield’s home.”
Eric Hollifield Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
August 2021. “The customer alleges that registered representative misappropriated funds from her account. Activity period: August 2020 to present.” The customer is seeking $1,240,000 in damages and the case is currently pending. The complaint took place while Hollifield was registered with LPL Financial LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, LPL Financial LLC may be liable for investment or other losses suffered by Eric Hollifield’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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