Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Azmi Patrick Sharif [CRD: 6481342, Elmhurst, Illinois]. Evidently, Sharif worked for LPL Financial LLC from July 19, 2018, to January 19, 2023, and has since worked for KCD Financial Inc. and Fourstar Wealth Advisors LLC in Oakbrook Terrace, Illinois. Sharif is involved in client disputes that contain allegations of sales practice violations. Also, FINRA recently fined and suspended him. Continue reading for more details on these investor allegations and the regulatory sanctions.
Securities broker Azmi Sharif agreed to FINRA sanctions (punishment) without admitting or denying the findings by FINRA. He allegedly participated in private securities transactions by facilitating approximately $900,000 in investments from eight individuals, including seven clients, without notifying the firm. These transactions were reportedly related to a crypto asset mining company, where Sharif was an investor and employee. FINRA says that he conducted a video call with some firm clients to explain the company's business and raise funds. However, after the company changed its business model, clients complained. Sharif did not receive any compensation for these transactions. As a result, he received a $5,000 fine and a nine-month suspension from all registered capacities, starting from July 15, 2024, to April 14, 2025.
On August 22, 2022, a client of LPL Financial made a complaint accusing Azmi Sharif of making misrepresentations and unsuitable recommendations of private placements. The client alleged these actions caused damages related to private placements. LPL Financial settled the matter by paying the client $500,000 in compensation on January 19, 2023.
On January 19, 2023, LPL Financial disaffiliated with Sharif, citing his alleged failure to disclose his involvement in private investments with a crypto asset mining company. Sharif allegedly facilitated investment discussions between LPL clients and the company without firm approval. He was discharged as a result of allegedly selling away.
Looking for more information about Azmi Sharif? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney. Sharif and the brokerage firms he worked for deny accusations of sales practice violations. Soreide Law Group has experience representing investors throughout the country and handles cases on a contingency basis.
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