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Calton & Associates Financial Advisor, Mark T. Lamkin, Has Three Customer Complaints Alleging Sales Practice Misconduct And A Pending Regulatory Matter

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.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.  We can be reached at 800.931.8452 or by email at mwolper@wolperlawfirm.com.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]