GARY ALLEN WARNER

GARY ALLEN WARNER is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 7447 North First Street, #203, Fresno, CA, 93720.

GARY ALLEN WARNER has worked at LPL FINANCIAL LLC since November 22, 2016

Disclosure History

GARY ALLEN WARNER has 1 Disclosure Event(s).

Date: July 29, 2013
Category: Customer Dispute
Allegations: BREACH OF FIDUCIARY DUTY, SUITABILITY, FAILURE TO DIVERSIFY, MISREPRESENTATIONS AND FAILURE TO DISCLOSE AND FAILURE TO CONDUCT APPROPRIATE DUE DILIGENCE
Damage Amount Requested: $790,000.00
Settlement Amount: $215,000.00
Broker Comment: "WE DENY ALL ALLEGATIONS OF WRONGDOING AND IMPROPRIETY MADE BY THE CLAIMANT. IN FACT WE HAVE AN AFFIDAVIT SIGNED BY THE SPOUSE OF CLAIMANT, AND JOINT OWNER OF THE INVESTMENTS, STATING THAT ALL THE RISKS RELATED TO THESE INVESTMENTS WERE FULLY EXPLAINED, THE CLAIMANT UNDERSTOOD THE RISK THAT HE WAS TAKING, AND THE CLAIMANT REFUSED OTHER INVESTMENTS OPTIONS THAT WERE PRESENTED TO HIM AS HE DESIRED THE HIGHER INCOME OPPORTUNITIES THAT THESE PRIVATE PLACEMENT INVESTMENTS OFFERED. IN ADDITION TO SIGNING THE AFFIDAVIT THE CLAIMANT'S SPOUSE REFUSED TO PARTICIPATE IN THE CLAIM AND WAS WILLING TO TESTIFY ON OUR BEHALF. EVEN THOUGH WE WERE FULLY PREPARED TO DEFEND OUR POSITION DURING THE ARBITRATION WE AGREED TO PARTICIPATE IN A SETTLEMENT ONLY TO AVOID ANY FURTHER LEGAL COST AND LIMIT OUR EXPOSURE, DUE TO THE SIZE OF THIS CASE, AS OUR E&O INSURANCE REFUSED TO COVER THE CLAIM."

More Information

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