- July 29, 2019
- Calton & Associates
- LPL Financial
Mark T. Lamkin (CRD # 42121510) is a Financial Advisor at Calton & Associates, Inc. in Louisville, KY. Mark Lamkin has been in the securities industry since 1991 and previously worked at LPL Financial, PNC Brokerage Corp., GNA Securities, Equico Securities and The Equitable Life Assurance Society of the United States.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), the Commonwealth of Kentucky Public Protection Cabinet Department of Financial Institutions is currently investing Mark Lamkin for allegedly “Receiving compensation for BD and advisory services that he was not entitled to receive / commission sharing.” In addition, Mark Lamkin has three customer complaint disclosures, including the following:
- January 2019 – “Misrepresentation.” The matter settled for $15,000.
- August 2018 – “CUSTOMER ALLEGES EXCESSIVE SELLING OF ANNUITIES, MISREPRESENTING OR FAILING TO DISCLOSE MATERIAL FACTS, UNSUITABILITY OF PRODUCTS AND ALTERATION OF ACCOUNT PROFILES.” The matter settled for $61,852.07.
Mark Lamkin was “discharged” from LPL Financial in August 2018 for allegations that he “received and/or benefitted from loans from Firm customers, failed to disclose and inadequately disclosed outside business activies, and personally engaged in and solicited other investors to participate in private investments without obtaining Firm approval.”
Mark Lamkin “voluntarily resigned” from PNC Brokerage in 2000 after the firm investigated “THE NATURE AN DPURPOSE OF FUNDS TRANSFERRED BETWEEN MR. LAMKIN AND A WORK ASSOCIATE.”
For a copy of Mark Lamkin’s CRD, click https://brokercheck.finra.org/individual/summary/2121510#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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