Erez Law is currently investigating LPL Financial LLC broker Evan Adelglass (CRD# 2392225), who is accused of mismanaging clients’ savings that resulted in millions of dollars of damages due to overconcentrated investments and the same recommendations to many clients without consideration of their financial objectives, risk comfort, or needs. He has been registered with LPL Financial LLC in Ansonia, Connecticut, since 2005.
It is alleged that the broker recommended his clients invest in Fisker, a stock that he personally owned, causing clients to lose their life savings. The stock experienced a high in February 2021. The stock later collapsed and was delisted in March 2024 and filed for bankruptcy in June 2024.
Evan Adelglass Customer Complaints
He has been the subject of three customer complaints between 2002 and 2024, one of which was denied, according to his CRD report:
October 2024. “Customers allege that investments made were unsuitable for the customers’ investment objectives and risk tolerance. Time frame: 2021-2024.” The customer is seeking $330,000 in damages, and the case is currently pending. The complaint was regarding common and preferred stocks.
October 2024. “Customer alleges that investments made were unsuitable for the customer’s investment objectives and risk tolerance. Time period: 2020-2024.” The customer is seeking $600,000 in damages, and the case is currently pending. The complaint was regarding common and preferred stocks.
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 Evan Adelglass’ 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.
"*" indicates required fields