Current Summit Brokerage Services Financial Advisor, Linda Zara, Was Terminated By Wells Fargo For Taking A Loan From A Client
The Wolper Law Firm is currently investigating claims against Linda Zara, a Financial Advisor at Summit Brokerage Services in Boca Raton, FL. Linda Zara has been in the securities industry since 1993.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on December 7, 2017, Linda Zara was terminated by Wells Fargo Advisors for “entering into a loan agreement with a customer in contravention of firm policy.” Both FINRA rules and the internal rules of every brokerage firm prohibit Financial Advisors from entering into these types of transactions with customers.
Prior to her termination, Linda Zara was also the subject of a customer complaint regarding the sale of an annuity in which the customer alleged unsuitability and breach of fiduciary duty. The matter was settled for $52,500.
To review a full copy of Linda Zara’s FINRA disclosure report, click https://brokercheck.finra.org/individual/summary/2322009#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Trading long-term investment vehicles in short duration is per se improper as it presents very little benefit to the customer and only benefits the Financial Advisor, who earns commissions. 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.
If you or someone you know was a customer of Linda Zara and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
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.
- Investment Loss Recovery Options For Investors In The 1INMM Capital, LLC Ponzi Scheme Perpetrated By Actor Zachary Horwitz a/k/a Zachary Avery
- J.W. Cole Financial, Inc. Sanctioned by FINRA for Sales Practices Relating To Sales And Supervision Of LJM Preservation & Growth Fund
- Cambridge Investment Research, Inc., Sanctioned by FINRA for Sales Practices Relating To Sales And Supervision Of LJM Preservation & Growth Fund
- Former Torch Securities Broker Jeremy Johnson Barred By FINRA After Allegedly Making Misrepresentations To Customers
- Former Lincoln Douglas Investments Broker Herbert G. Frey Sanctioned By FINRA For Alleged Unauthorized Trading
- Two Customer Complaints Pending Against Ausdal Financial Partners, Inc. Investment Advisor and Broker Kurt Baldry
- Concorde Investment Services Broker, Mark Huber, Has Two Customer Complaints, Alleging Sales Practice Misconduct
- Unsuitability Allegations Pending Against Previously Registered Voya Financial Advisors, Inc. Financial Advisor and Broker David R. Wall
- Common Types of Alternative Investments
- Did You Purchase GPB Capital Holdings Private Placements Through McNally Financial Services Or Daniel Poland