There are options for clients of Cambridge Investment Research, Inc. broker John Lee (CRD# 2950037), who suffered investment losses due to his recommendations. He has been registered with LPL Financial LLC in Fort Worth, Texas, since 2021. Previously, he was registered with Cambridge Investment Research Advisors, Inc. and Cambridge Investment Research, Inc. in Fort Worth, Texas, from 2012 to 2021, when he was terminated regarding, “the financial professionals office reused client signatures from previously signed client forms with client knowledge.”
He was previously registered with the following brokerage firms:
- MML Investors Services, LLC in Fort Worth, Texas, from 2010 to 2012
- Northwestern Mutual Investment Services, LLC in Fort Worth, Texas, from 2005 to 2010
- Northwestern Mutual Investment Services, LLC in Fort Worth, Texas, from 2003 to 2010
He was terminated from Northwestern Mutual Investment Services, LLC in 2010, regarding, “representative was permitted to resign while under an internal review investigating whether he was involved in undisclosed private securities transactions and the sale of equity indexed annuities (a/k/a fixed indexed annuities) in violation of firm policy.”
John Lee Customer Complaints
He has been the subject of one customer complaint in 2022, according to his CRD report:
June 2022. “Statement of Claim alleges an investment recommendation was made for the purpose of generating high commissions and fees and that Claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio.” The case was settled for $575,000. The complaint took place while he was registered with Cambridge Investment Research, Inc., and it was regarding direct investments and oil and gas energy sector losses.
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, Cambridge Investment Research, Inc. may be liable for investment or other losses suffered by John Lee’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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