Former LPL Financial Broker, Jeffrey Vasiloff, Suspended By FINRA For Alleged Unauthorized Trading
Jeffrey Vasiloff a/k/a Jeff Vasiloff (CRD # 3180004) is a former Financial Advisor at LPL Financial, LLC in Vermilion, OH. Jeffrey Vasiloff a/k/a Jeff Vasiloff has been in the securities industry since 1999 and previously worked at Invest Financial Corporation. He currently works for JW Cole Financial.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in July 2018, LPL terminated Jeffrey Vasiloff a/k/a Jeff Vasiloff based on allegations that he used “discretion without prior written authorization.” Subsequent to his termination, FINRA commenced an investigation and ultimately sanctioned Jeffrey Vasiloff a/k/a Jeff Vasiloff, suspending him for ten days and imposing a fine. The FINRA sanction states:
“Without admitting or denying the findings, Vasiloff consented to the sanctions and to the entry of findings that he exercised discretion in a customer account without written authorization from the customer. The findings stated that although Vasiloff discussed investment strategies with the customer, he did not speak with the customer about the specific trades on the dates of the transactions. In addition, Vasiloff’s member firm prohibited the exercise of discretion in brokerage accounts.”
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2018059317501%20Jeffrey%20L.%20Vasiloff%20CRD%203180004%20AWC%20jm.pdf
For a copy of Jeffrey Vasiloff a/k/a Jeff Vasiloff’s CRD, click https://brokercheck.finra.org/individual/summary/3180004#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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