Securities Arbitration Investment Fraud Lawyers » Misappropriation of Funds » Investors File Arbitration Claim Against LPL Financial

arbitration notice

Kevin Charles Fretz of South Windsor Connecticut a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought compensatory damages founded on accusations of unsuitable real estate investment trust recommendations by Fretz during the time that he was associated with LPL Financial. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01897 (July 9, 2020).

Fretz has been referenced in five more customer initiated investment related disputes containing allegations of his violative conduct while employed by UVest Financial Services Group and LPL Financial. FINRA Public Disclosure confirms that Fretz is referenced in a customer initiated investment related complaint where the customer sought $5,000.00 in damages based upon accusations of Fretz’s failure to follow the customer’s instructions.

Fretz is also the subject of a customer initiated investment related complaint which was resolved for $49,343.91 in damages on February 27, 2020 supported by allegations including forgery and misrepresentation as it pertained to the customer’s investments in real estate securities through the LPL Financial stockbroker. On March 6, 2020, another customer initiated investment related complaint concerning Fretz’s conduct was settled for $15,255.65 in damages founded on accusations that the customer’s instructions had been disregarded by Fretz resulting in damages.

On July 7, 2020, a different customer initiated investment related complaint regarding Fretz’s conduct was resolved for $28,194.59 in damages based upon allegations of the stockbroker misrepresenting information concerning the customer’s investments in REITs. According to the complaint, those real estate securities were not appropriate for the LPL Financial customer. Fretz is also referenced in a customer initiated investment related complaint which was settled for $77,708.25 on July 17, 2020 supported by accusations that the customer invested in an unsuitable structured note because of Fretz and that misrepresentations were made by the stockbroker.

Fretz was discharged by LPL Financial on September 12, 2019 based on allegations of him failing to comply with instructions that customers provided to him regarding their investments. The securities broker dealer also indicated that Fretz concealed customer disputes and he held customer documents that were signed but otherwise blank.