Soreide Law Group is conducting an investigation on behalf of investors who may have suffered losses at the hands of securities broker and financial advisor Lawrence Richard Greenfield (Larry Greenfield) [CRD#: 4056913, Woodland Hills, California]. Greenfield's record includes a tenure at LPL Financial LLC from July 2018 to May 2020, and at Arete Wealth Management LLC from October 2013 to July 2018. Recently, allegations have surfaced regarding unsuitable investment recommendations made by Greenfield, with multiple FINRA Arbitrations filed against him by clients of Arete Wealth Management LLC.
Particularly, on September 12, 2023, a client of Arete Wealth Management LLC filed FINRA Arbitration: 23-02389 about Lawrence Greenfield. Namely, the client alleged that Greenfield recommended alternative investments that were not suitable in 2017. Because of this, the client allegedly sustained damages on those investments. Therefore, the client requested $950,000 in compensation from Arete Wealth Management LLC or Greenfield. Evidently, this arbitration is pending a resolution.
Also, a client of Arete Wealth Management LLC contested Lawrence Greenfield’s sales practices by filing FINRA Arbitration: 23-01513 on May 31, 2023. Supposedly, the broker provided bad advice in March 2018. It appears that Greenfield caused the client to sustain damages on an alternative investment. Therefore, the client seeks compensatory relief from Arete Wealth Management LLC or Greenfield in the amount of $100,000 in this ongoing matter.
Additionally, on March 14, 2023, a client of Arete Wealth Management LLC filed FINRA Arbitration: 23-00580 about Lawrence Greenfield. Namely, the client alleged that Greenfield made unsuitable alternative investment recommendations. Therefore, the client requested $500,000 in compensation from Arete Wealth Management LLC or Greenfield. Evidently, this arbitration is pending a resolution.
Moreover, a client of Arete Wealth Management LLC contested Lawrence Greenfield’s sales practices by filing FINRA Arbitration: 23-00269 on February 22, 2023. Supposedly, Greenfield recommended investments that were not suitable in May 2017, September 2019, and January 2021. Therefore, the client seeks compensatory relief from Arete Wealth Management LLC or Greenfield in the amount of $257,500 in this ongoing matter.
Specifically, a client of Arete Wealth Management LLC leveled accusations against Lawrence Greenfield concerning unsuitable investment recommendations regarding real estate security investments. This issue was addressed through a FINRA Arbitration: 19-00162, filed on January 11, 2019. This matter reached a settlement on May 28, 2021, for $175,000 in damages. It is important to note that Lawrence Greenfield did not contribute individually to the settlement amount.
Did you experience losses because of Lawrence Greenfield? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Greenfield and brokerage firms he worked for deny accusations of sales practice violations.
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