ATTENTION INVESTORS: Complaints Filed Against LPL Financial Brokers Michael Botwinick, Christopher Dunlap, Brian Midi

Soreide Law Group is reviewing possible investor claims against brokers of LPL Financial LLC (CRD#: 6413, Boston, Massachusetts) who may have engaged in sales practice violations. Notably, the firm disclosed through Financial industry Regulatory Authority (“FINRA”) that customers brought fifty-four investment-related arbitration claims. Those claims were brought against the firm for alleged sales practice violations harming customers. As a result, LPL Financial paid most of those customers compensation. Additionally, LPL Financial brokers report customer disputes concerning allegations of the firm or brokers’ misconduct. For example, here is a summary of customer disputes involving alleged misconduct of brokers Michael Botwinick, Christopher Dunlap and Brian Midi:

LPL Customer Files FINRA Arbitration Concerning Michael Botwinick’s Unsuitable Advice, Excessive Fees

Michael George Botwinick (CRD#: 1057151, Woodcliff Lake, New Jersey) has been a general securities representative of LPL Financial since September 29, 1998. Notably, Michael Botwinick reports on his FINRA BrokerCheck Report that a customer contested his sales practices from 2008 to 2017. In FINRA Arbitration #18-01725, filed on May 3, 2018, the customer claimed Michael Botwinick  gave bad advice. Supposedly, Michael Botwinick inappropriately advised the customer to purchase pre-paid forward contracts, managed futures, real estate security products, stocks and direct investments. Because of this, the customer apparently lacked liquidity and was subjected to unnecessary risk. Further, Michael Botwinick reportedly caused the customer to pay substantial fees on investments. While the customer’s allegations of Michael Botwinick’s unsuitable trades and charging of excessive fees may be true, Michael Botwinick reportedly denies the customer’s position. Therefore, this matter is not resolved as of yet.

LPL Customer Files Complaint About Christopher Dunlap’s Misrepresentation Of Annuity

Christopher Elliot Dunlap (CRD#: 4794991, McHenry, Illinois) is a past LPL Financial Services general securities representative. Apparently, he worked out of the firm’s McHenry, Illinois offices from November 2, 2010 to November 13, 2017. Supposedly, a customer took aim at Christopher Dunlap’s sales practices in filing a complaint on November 7, 2017. Allegedly, from December 20, 2011 to November 7, 2017, Christopher Dunlap misrepresented information about an annuity the customer bought. Supposedly, Christopher Dunlap’s misrepresentations led the customer to make the annuity purchase. As a result of the harm the customer allegedly suffered in this respect, the customer demanded $75,796.00 in compensation. Currently, this matter is pending a resolution.

Customer Files Dispute Regarding Brian Midi’s Unauthorized Trading, Misrepresentation

Brian Brisson Midi (CRD#: 5986597, Melville, New York) used to be a securities representative at LPL Financial. Notably, the firm disclosed on Brian Midi’s FINRA BrokerCheck Profile that on June 21, 2016, a customer brought an investment dispute about his sales practices. First, the customer claimed that Brian Midi made trades which the customer did not authorize. Secondly, Brian Midi allegedly misrepresented information about stock and options which the customer purchased. Thirdly, the customer contended that it was not suitable for Brian Midi to place the customer in risky options and equities. Apparently, the customer incurred losses on those options and equities. Evidently, LPL Financial opted to pay the customer $68,196.84 because of the customer’s claims of unauthorized trading, misrepresentation, unsuitability and poor performance. Accordingly, this matter settled July 25, 2017. LPL Financial permitted Brian Midi to resign on April 12, 2016 for failing to comply with the firm’s policies.

Incurred losses by investing with LPL Financial brokers Michael Botwinick, Christopher Dunlap or Brian Midi? 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.