LPL Discharged Financial Advisor, Gabriela Trower, For Failing To Disclose Outside Business Activities
The Wolper Law Firm is currently investigating claims against Gabriela Trower, a former Financial Advisor at LPL Financial in Coconut Creek, FL. Gabriela Trower has been in the securities industry since 2000 and previously worked for Beta Capital Securitis.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on December 4 2018, LPL terminated Gabriela Trower for “Non-disclosure of outside investment account(s), in violation of Firm policy.”
Outside business activities are closely monitored by brokerage firms and regulators to ensure that Financial Advisors do not involve customers in investment opportunities that are not approved by the broker’s employing brokerage firm. This practice is known as “selling away.”
FINRA strictly prohibits financial advisors from “selling away” or selling securities and investments to clients that are not offered by the brokerage firm with which they are employed. For example, it is illegal and a violation of industry rules for a financial advisor to recommend or even suggest that a client invest in the financial advisor’s own business or a business operated by his or her friends or family. It is not necessary that the financial advisor earn any compensation for recommending an outside investment.
For a copy of the Gabriela Trower’s CRD, click https://brokercheck.finra.org/individual/summary/3244048#disclosuresSection
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 firstname.lastname@example.org.
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