Did you suffer investment losses with SII Investments (CRD# 2225) (SEC# 801-54935, 8-13963)?
SII Investments has been acquired by LPL Financial.
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with SII Investments. If you suffered losses investing with SII Investments, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
As of June 6, 2020, SII Investments’s FINRA BrokerCheck Report contains the following:
13 Regulatory Event Disclosures
9 Arbitration Disclosures
SII Investments’s Direct Owners and Executive Officers
NATIONAL PLANNING HOLDINGS, INC, SHAREHOLDER
COLEMAN, CAREN LESLIE (CRD#:4298287), VP, NPH PRODUCT AND SPONSOR RELATIONS
COLLINS, MAURA KATHRYN (CRD#:4761732), SVP/CFO NATIONAL PLANNING HOLDINGS
DOWDEN, STEVEN HOWARD (CRD#:2666894), PRESIDENT AND CEO OF NPH
GUNDERSON, GERRY A (CRD#:2448501), NPH GENERAL COUNSEL & SVP OF REGULATORY AFFAIRS
HARRIS, BRADLEY OLAN (CRD#:6589930), DIRECTOR
KALINOWSKI, DAWN MARIE (CRD#:2770565), SVP, COO
KINART, TODD MICHAEL (CRD#:2723511), SII PRESIDENT & CEO/DIRECTOR
LAMBRECHTS, VANESSA MARIE RODRIGUEZ (CRD#:4800775), VP, FINOP & CONTROLLER
MCCALLOP, PATRICIA ANN (CRD#:5059176), NPH AND SII SVP & CHIEF COMPLIANCE OFFICER
MILLER, JAMES PETER (CRD#:1955960), NPH SVP OPERATIONS
Due Diligence Requirement
FINRA requires broker-dealers to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Broker-Dealers that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
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Formerly Known As, Aliases, and Affiliates
HOMECO SECURITIES, INC., SECURA INVESTMENTS, INC., HOMECO SECURITIES, INC., SECURA INVESTMENTS, INC.