Have you suffered losses investing with Garrett Andres Ahrens and Ahrens Investment Partners? If so, the securities attorneys of The White Law Group may be able to help you recover your losses through a FINRA arbitration claim against LPL Financial.
LPL Financial has recently parted ways with Garrett Andrew Ahrens and his firm Ahrens Investment Partners. According to an Investment News report, Ahrens received notice of an investigation by the Financial Industry Regulatory Authority (FINRA) for alleged misuse of consolidated reports.
The report indicates that Mr. Ahrens was given notice on August 4 that Finra was investigating potential misuse of consolidated reports, which provide an overall look at clients' finances, including accounts held outside the firm. The question was whether the reports provided by Mr. Ahrens contained incorrect information, the regulator said. LPL described the allegations as "presenting customers with consolidated reports that contained statements that were false, exaggerated, unwarranted or misleading," according to a report on his CRD Snapshot, a detailed background filed with state securities regulators.
The Investment News report further states that Mr. Ahrens is no longer registered with a broker-dealer. He was briefly registered with Mutual Securities Inc., a firm in Camarillo, Calif., which discharged him on August 19. According to BrokerCheck, they indicated Mutual Securities stated that it was "unable to affiliate in a supervisory capacity due to pending Wells notice."
FINRA is reportedly investigating whether the consolidated reports presented to customers contained statements that were false, exaggerated, unwarranted or misleading. Ahrens has denied these allegations.
Ahrens' FINRA BrokerCheck report also reveals ten disclosure events, including eight customer complaints. He was a registered representative of LPL from 06/1998 - 08/2015.
Ahrens Investment Partners operates as an investment adviser firm and is registered with the Securities Exchange Commission (SEC).
The White law Group is investigating the liability that LPL Financial may have for failure to supervise Mr. Ahrens. Broker-dealers are required to properly supervise the financial advisors they employ and to ensure that these individuals are complying with FINRA Rules. To the extent that it can be proven that Mr. Ahrens violated FINRA Rules and that LPL Financial failed to supervise him, LPL Financial may be liable for any investment losses incurred.
If you suffered losses as a result of your dealings with Garrett Andrew Ahrens and would like to discuss your litigation options, please call the securities attorneys of The White Law Group at (312)238-9650 for a free consultation.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.