Cory Ryan Burnell of Valley Springs Colorado a stockbroker formerly employed by LPL Financial LLC and Blueprint Wealth Partners LLC has been ordered by California Department of Business Oversight to cease and desist violating securities laws or regulations and has been suspended for twelve months from engaging in investment advisory business in the State of California founded on accusations of Burnell making unsuitable options and leveraged exchange traded fund transactions for Blueprint Wealth Partners customers which caused them to experience catastrophic losses. Consent Order No. 21952 (Sept. 18, 2019).
Financial Industry Regulatory Authority (FINRA) Public Disclosure indicates that Burnell is the subject of nine customer initiated investment related disputes pertaining to allegations of his bad business practices while employed by LPL Financial and Blueprint Wealth Partners. On August 4, 2017, a customer initiated investment related arbitration claim regarding Burnell’s conduct was settled for $42,000.00 in damages supported by accusations of bad investment advice by Burnell concerning inverse leveraged exchange traded funds held in the customer’s account during the time that Burnell was associated with LPL Financial. FINRA Arbitration No. 15-03174.
On March 16, 2018, another customer initiated investment related arbitration claim involving Burnell’s activities was resolved for $141,000.00 in damages based upon accusations that the LPL Financial and Blueprint Wealth Partners customer was inappropriately advised to invest in leveraged exchange traded funds by Burnell which caused the customer to experience unwarranted losses. FINRA Arbitration No. 16-03229. Burnell is also referenced in a customer initiated investment related arbitration claim which was settled for $400,000.00 in damages based upon allegations that Burnell’s investment recommendations were not suitable for the LPL Financial and Blueprint Wealth Partners customer. FINRA Arbitration No. 17-00593 (June 4, 2018).