Evan A. Lunsford of Terre Haute, Indiana, a stockbroker associated with LPL Financial, was the subject of a customer initiated investment related complaint filed on August 18, 2023, in which the customer requested compensatory damages. The customer’s allegations are that Lunsford made investment recommendations in structured notes tied to the energy market that were unsuitable for the customer’s investment objectives. These unsuitable recommendations were allegedly made when Lunsford was associated with LPL Financial. The complaint is pending.
This is not the first time that Lunsford has been referenced in a customer initiated investment related dispute concerning Lunsford’s conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Lunsford was also referenced in a customer initiated investment related complaint that was settled on August 5, 2020, for $100,000.00 in damages. In that case, the customer alleged that Lunsford sold an unsuitable structured note between 2018 and 2020, during the time that Lunsford was associated with LPL Financial.
On May 26, 2021, a customer initiated investment related FINRA securities arbitration claim involving Lunsford’s conduct was settled for $55,000.00 in damages. The claim was based upon allegations that Lunsford made unsuitable investment recommendations in two structured notes tied to the energy market in July 2018 when Lunsford was associated with LPL Financial. FINRA Arbitration No. 20-03380.
Lunsford has been associated with LPL Financial LLC in Terre Haute and Clinton, Indiana, since October 30, 2015, as both a stockbroker and investment adviser representative.