Financial Advisor Chad Michael Tusa Terminated by LPL Financial

• July 16, 2026
• LPL Financial

Broker’s Background

 

Chad Michael Tusa (CRD #: 4524325) was registered with LPL Financial LLC. Chad’s past employers include Crown Capital Securities, L.P.

 

Current and Past Allegations of Conduct Leading to Investment Loss

 

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in April 2026, Chad Michael Tusa was discharges after allegations of “failed to escalate customer complaints; and failed to disclose a reportable lien”.

 

In addition, Chad Michael Tusa has been the subject of four past FINRA disclosures, including the following:

• May 2025 – Discharged due to multiple violations of firm agreements, Policies and Procedures, Code of Ethics, and failures to disclose material information.
• May 2025 – Judgment/Lien amount of $609,687.46 for tax.
• October 2014 – Judgment/Lien amount of $45,266.01 for tax.
• July 2014 – Judgment/Lien amount of $43,458.51 for tax.

For a copy of Chad Michael Tusa’s FINRA Broker Check, click here

 

We Help Investors Recover Investment Losses

 

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.

 

Reasonable basis suitability requires that a recommended investment or investment strategy be suitable or appropriate for at least some investors. Reasonable basis suitability requires an advisor to conduct adequate due diligence so that he or she can determine the risks and rewards of the investment or investment strategy.

 

Customer specific suitability requires that a brokerage firm or financial ensure that the recommendations are appropriate for a particular customer based on, among other things, that customer’s needs and objectives.

 

Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation. 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 (855) 289-7868 or by email at mwolper@wolperlawfirm.com