LPL Financial Terminates Phillip Boyd, Bernard Gann

LPL Financial LLC (CRD#: 6413, Boston, Massachusetts) is a Financial Industry Regulatory Authority (“FINRA”) member brokerage firm. FINRA BrokerCheck shows that the firm terminated brokers including Bernard Wayne Gann and Phillip Dennis Boyd for violating the firm’s policies or possibly violating securities rules or regulations. Here is a summary of those brokers’ disclosures concerning their alleged misconduct:

Phillip Boyd Discharged Over Outside Alleged Business Activities

 
Phillip Dennis Boyd (CRD#: 4238671, Owasso, Oklahoma) is a former LPL Financial general securities representative. Apparently, Phillip Boyd worked at the firm from October 31, 2003 to April 7, 2017. At that point, LPL Financial discharged Phillip Boyd based on allegations of Phillip Boyd’s policy violations. Phillip Boyd allegedly engaged in outside business activities. Supposedly, Phillip Boyd failed to inform the firm about his involvement in those activities. The firm’s basis of Phillip Boyd’s termination, outside business activities, is the type of conduct that FINRA has fined and suspended brokers for engaging in. Currently,  Phillip Boyd is a securities representative of Crown Capital Securities, L.P.

LPL Financial Discharges Bernard Gann For Violating Compliance Policy

 
Bernard Wayne Gann (CRD#: 2459622, Tyler, Texas) is another of LPL Financial’s brokers to report a termination after allegations of misconduct. Bernard Gann joined LPL Financial on July 2, 2013. Apparently, LPL Financial discharged Bernard Gann on July 31, 2018. According to the firm, Bernard Gann apparently allowed an unauthorized individual to direct trades in a customer’s investment account. Moreover, the firm claimed that Bernard Gann allowed someone who was not associated with LPL Financial to engage in securities business. Other than the LPL Financial termination, Bernard Gann disclosed on his FINRA BrokerCheck Profile that a customer of First Union Securities, Inc. complained about his activities regarding options trades in a customer’s account. Evidently, Bernard Gann settled the customer’s complaint by paying $8,000.00 to the customer.
Have you experienced losses by investing with LPL Financial brokers Bernard Wayne Gann or Phillip Dennis Boyd? 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 represent 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.