Lincoln Financial Advisors Brokers Ivy Menchel, Adam Gellis Accused Of Investment-Related Misconduct

Lincoln Financial Advisors Corporation (CRD#: 3978, Fort Wayne, Indiana) is a brokerage firm and investment advisory firm regulated by Financial Industry Regulatory Authority (“FINRA”) and Securities and Exchange Commission (“SEC”), respectfully. Since its establishment, Lincoln reports fourteen regulatory actions and six arbitrations. Those disclosures concern the firm’s alleged violations of federal securities laws, securities industry rules or sales practice violations. Lincoln Financial Advisors Corporation has also disclosed its terminations of brokers for misconduct. The firm further discloses several additional pending or settled customer disputes involving the firm’s brokers. For example, check out the disclosures of Lincoln Financial Advisors Corporation brokers Ivy Menchel and Adam Gellis:

Lincoln Financial Advisors Customer Files Complaint About Ivy Menchel’s Bad Investment Advice

Ivy Hope Menchel (CRD#: 2108172, New York, New York) is a securities broker who has worked with the firm since February 15, 2005. Evidently, Ivy Menchel serviced the account of a Lincoln Financial Advisors Corporation customer who complained about his activities. Specifically, the customer brought a complaint to the firm’s attention on April 13, 2018. According to the customer, in April 2017, Ivy Menchel advised the customer to make account transfers or rebalances. However, by following Ivy Menchel’s advice, the customer allegedly incurred unnecessary tax consequences. Because of this, on June 21, 2018, Lincoln Financial Advisors Corporation paid the customer $23,986.00 to resolve the customer’s complaint.

Adam Gellis Discharged By Lincoln Financial Advisors For Soliciting Unapproved Investments For Compensation

 
Adam Scott Gellis (CRD#: 4277491, Lake Worth, Florida) became a general securities representative of Lincoln Financial Advisors Corporation on March 19, 2013. Evidently, on May 23, 2018, the firm discharged Adam Gellis for violating company policy. Specifically, the firm alleged that it terminated Adam Gellis for helping customers purchase investments that Lincoln Financial Advisors Corporation did not authorize. Supposedly, Adam Gellis referred investors to the unapproved investments in return for compensation. Note: FINRA often finds brokers violating FINRA rules when they engage in undisclosed private securities transactions or outside business activities.

Have you experienced losses by purchasing products from Lincoln Financial Advisors Corporation brokers Ivy Menchel and Adam Gellis? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.