The Wolper Law Firm is currently investigating claims against Lanny Howarter, a Financial Advisor at Crown Capital Securities in San Diego, CA. Lanny Howarter has been in the securities industry since the 1970s and previously worked at Equity Services, Inc.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on November 21, 2017, a customer filed a complaint against Lanny Howarter, alleging “lack of suitability, fraud, breach of fiduciary duty, negligence and failure to supervise relating to the purchase of various alternative investments.” The customer seeks damages of $499,000 and the matter remains pending.
This is not Lanny Howarter’s first customer complaint. In 2010, a customer alleged that Lanny Howarter made “unsuitable recommendations and misrepresented the product.” That complaint was settled for $250,000. Again, in March 2004, a customer made the same allegations and the complaint was settled for $95,000.
To review all customer complaints and disclosures against Lanny Howarter click https://brokercheck.finra.org/individual/summary/813591#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.
If you or someone you know was a customer of Lanny Howarter 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.