Former LPL Financial Advisor Ahrens Agrees to FINRA Fine, Suspension

By October 6, 2015 September 20th, 2017 News

A former LPL Financial, LLC (“LPL”) financial advisor has accepted a fine and suspension from FINRA relating to allegations he inflated investment values on customer reports.

Garrett Ahrens, who resigned from LPL on August 18, 2015, has entered into a Letter of Acceptance, Waiver and Consent (“AWC”) with FINRA, agreeing to a $5,000 fine and a one-month suspension from the industry relating to the charges.

According to the AWC, “Between on or about January 6, 2011 and June 7, 2013, Ahrens prepared a total of approximately 65 consolidated reports for at least four customers that inaccurately reflected the current value of investments and the performance of investment, including private placements and non-traded REITs. The consolidated reports were false and misleading because the current values of the investments provided on the consolidated reports were shown at a significantly higher price that their actual values.”

As part of the AWC, Ahrens neither admits nor denies FINRA’s findings relating to the allegations. According to Ahren’s FINRA BrokerCheck report, he currently has one customer dispute pending, and also settled two additional customer complaints during the 2010-2013 time period.

 

Fishman Haygood represents investors who have suffered investment losses in claims against their brokers or financial advisors. Our experienced attorneys have brought securities fraud cases in state and federal courts across the nation, as well as in FINRA arbitration. We work to help investors recoup their losses.

Of course, all cases are different. For that reason, we analyze each client’s matter individually and provide our personalized evaluation only after considering all of the facts and circumstances of all possible claims. If you or someone you know is the victim of securities fraud, please contact a Fishman Haygood lawyer today.

5 STEPS YOU SHOULD TAKE TODAY IF YOU'RE THE VICTIM OF INVESTMENT FRAUD