There are options for clients of former LPL Financial LLC broker Enrique Lopez (CRD# 2209385) regarding real estate security losses. He has been registered with Arkadios Capital in Mcallen, Texas, since 2018. He was registered with LPL Financial LLC in Mcallen, Texas, from 2008 to 2018.
Enrique Lopez Customer Complaints
He has been the subject of five customer complaints between 2013 and 2024, one of which was denied, according to his CRD report. The most recent complaints were regarding:
May 2024. “Customer alleges that an investment made in 2014 was unsuitable for the customer’s investment objectives and risk tolerance.” The case is currently pending. The complaint was regarding variable annuities and real estate security losses, and it took place while he was registered with LPL Financial LLC.
January 2020. “Claimant alleges unsuitable investment recommendations and failure to non-traded REIT investments.” The complaint was settled for $75,000. The complaint was regarding real estate securities, and it took place while he was registered with LPL Financial LLC.
June 2019. “Allege that between 2014 and 2016 advisor misrepresented and recommended unsuitable, concentrated investments in speculative real estate investment trusts. Customers also allege that advisor recommended an unsuitable annuity switch.” The customer sought $2,000,000 in damages, and the case was settled for $150,000. The complaint was regarding variable annuities and real estate security losses, and it took place while he was registered with LPL Financial LLC.
April 2017. “Lopez was a subject of the customer’s complaint against his member firm and a bank that asserted the following causes of action: breach of contract and warranties; violation of Texas State Securities Statutes; negligent supervision; violation of the Texas Business and Commerce Codes; violation of consumer protection statutes, negligent misrepresentations, unjust enrichment, and breach of duties; unsuitable investment recommendations and violations of FINRA Rules; and vicarious liability.” The customer sought $3,759,713.55 in damages, and the customers were awarded $864,839.70 in compensatory damages, $340,000 in attorneys’ fees, $350,000.00 in additional damages, and $1,575 in fees. The complaint took place while he was registered with LPL Financial LLC, and it was regarding non-traded REITs.
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 Enrique Lopez’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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