• April 5, 2023
• LPL Financial

Robert T. Li (CRD#: 4068255) is a dually registered Broker and Investment Adviser at LPL Financial, LLC, in Naperville, IL.

Broker’s Background

He entered the securities industry in 1999 and previously worked for Wachovia Securities, LLC; and Prudential Securities, Inc.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in January 2023, a customer dispute was filed against Robert Li. The allegation states, “Customer alleges that representative recommended an investment strategy involving REITs, and buying certain equities on margin which were not suitable for the customer’s investment objectives and risk tolerance. Time period: December 2008 to January 2023.” Damages of $200,000 are requested, and the customer dispute is pending.

In addition, Robert Li has been the subject of two customer complaints, including one that remains pending, including the following:

• January 2023 — “Customer alleges that representative recommended an investment strategy involving buying certain equities on margin which was not suitable for the customer’s investment objectives and risk tolerance. Time period: November 2020 to January 2023.” Damages of $75,000 are sought, and the customer dispute is pending.
• January 2002 — “WRITTEN COMPLAINT FROM CUSTOMER’S ATTORNEY ALLEGING THAT FA INVESTED IN AN AGGRESSIVE FUND WHEN CUSTOMER REQUEST THAT HER FUNDS BE TRANSFERRED TO A CONSERVATIVE FUND.” The customer dispute was closed with no action.

For a copy of Robert Li’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

A real estate investment trust (REIT) is a security that invests in real estate directly either through properties or mortgages. Generally, REITs can be publicly or privately held. Publicly held REITs can be sold on an exchange and publicly traded. Non-traded REITs are sold through broker-dealers and are private. REITs are generally classified as equity, mortgage or hybrid.

REITs have traditionally been sold to customers for their high dividend yield. However, many factors impact the ability of the REIT to maintain dividend and share price stability, including the fluctuation in interest rates, the amount and cost of leverage used by the REIT and collectability of the rents or mortgage payments that comprise the underlying assets within the REIT.

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, P.A. represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., 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 mwolper@wolperlawfirm.com.