Can I recover losses from investments with LPL Financial LLC broker Frederick Arbusto (CRD# 4357069)? He has been registered with LPL Financial LLC in Wakefield, Rhode Island since 2018. Previously, he was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Providence, Rhode Island from 2009 to 2018.
Frederick Arbusto Customer Complaints
He has been the subject of two customer complaints between 2004 and 2022, according to his CRD report:
August 2022. “Claimant alleges that between September 2021 and August 2022, representative executed transactions on her behalf which were not suitable and contrary to Claimant’s instruction.” The customer is seeking $800,000 in damages and the case is currently pending. The complaint was regarding common and preferred stocks and the complaint took place while he 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 Frederick Arbusto’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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