Linda Francis (LPL Financial) Barred By FINRA, Linked To Investor Suitability Complaints

FINRA barred securities broker Linda Lucille Sokol Francis (also known as Linda Gundelach) [CRD: 811073, Brookfield, Illinois], and investors complained about her, according to disclosures on FINRA BrokerCheck. It appears that Sokol Francis worked for Waddell Reed from August 14, 1975 to July 21, 2021, and then for LPL Financial LLC from July 21, 2021 to June 12, 2024. Read on to know more about the disclosures involving Sokol Francis.

FINRA Sanctioned Francis For Failure To Provide Information

Specifically, on March 25, 2025, FINRA issued Case: 2023077019901 sanctioning Linda Francis. Specifically, Sokol Francis was barred from associating with any FINRA member in all capacities. Particularly, FINRA alleged that Sokol Francis failed to provide information and documents to FINRA when it investigated possible violations of FINRA rules.

According to FINRA, this matter arose from its review of a Form U5 filed by LPL Financial. The firm disclosed that Sokol Francis was discharged for discretionary trading. As part of FINRA’s investigation, the regulator requested information and documentation on February 28, 2025. On March 11, 2025, Sokol Francis confirmed she would not comply. This refusal constituted a violation of FINRA Rules 8210 and 2010, which led to the permanent bar.

Linda Francis Disclosed Unsuitable Recommendations Allegation By Waddell Reed Client

Evidently, a client of Waddell Reed contested Linda Francis’s sales practices, according to a complaint dated June 24, 2019. Allegedly, Sokol Francis made unsuitable recommendations involving variable annuities. It appears that Sokol Francis allegedly caused the client to sustain damages. Therefore, the client sought compensation from Waddell Reed or Sokol Francis in the amount of $11,458.58 in this matter. However, the firm denied this complaint.

Additional Complaint Against Francis Alleged Unsuitable Advice

In addition to the above, four other clients brought disputes about Sokol Francis at other securities firms. In a 2005 complaint, a client alleged that she failed to comply with an order regarding asset transfers. In a 2001 complaint, a client alleged unsuitable recommendations. Both disputes closed with no further client action.

Looking For More Information About Securities Broker Linda Francis?

Did you experience losses because of Linda Francis? If so, contact Soreide Law Group online or at (888) 760-6552 and talk to a securities lawyer. Soreide Law Group has recovered losses for investors throughout the country. Also, the firm takes investor cases on a contingency fee basis and advances the costs. Sokol Francis and brokerage firms Sokol Francis worked for deny allegations of sales practice violations.