MICHAEL RAY HOWELL is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 1101 NORTH MARKET STREET, SPARTA, IL, 62286.
MICHAEL RAY HOWELL has worked at LPL FINANCIAL LLC since June 08, 1998
MICHAEL RAY HOWELL has 2 Disclosure Event(s).
Date: August 28, 2015 Category: Customer Dispute Allegations: POOR PERFORMANCE, SUITABILITY. ACTIVITY PERIOD IS 6/24/00 TO 8/18/15. Damage Amount Requested: $325,000.00 Settlement Amount: $43,000.00 Broker Comment: THE REGISTERED REPRESENTATIVE DENIES ANY AND ALL WRONGDOING WITH RESPECT TO THIS MATTER AND MAINTAINS THAT HE PROVIDED THE CUSTOMERS WITH INVESTMENT RECOMMENDATIONS AS PART OF THEIR OVERALL PORTFOLIO THAT WERE SUITABLE IN ALL RESPECTS BASED ON THE CIRCUMSTANCES DISCLOSED BY THE CUSTOMERS AT THE TIME OF PURCHASE AND CONSISTENT WITH THEIR STATED INVESTMENT OBJECTIVES. OUT OF CLAIMED DAMAGES TOTALING $325,000, THIS MATTER WAS RESOLVED FOR $43,000 WITH NO CONTRIBUTION FROM THE REGISTERED REPRESENTATIVE. THIS MATTER WAS RESOLVED WITHOUT ANY ADMISSION OF LIABILITY (WHICH WAS AND REMAINS DENIED) AND SOLEY AS A BUSINESS DECISION IN ORDER TO BRING THIS MATTER TO CLOSURE.
Date: October 14, 2014 Category: Customer Dispute Allegations: A LONG-TERM CUSTOMER OF THE ADVISOR ALLEGES THAT TWO SECURIITES PURCHASED IN HER ACCOUNT WERE UNSUITABLE. Damage Amount Requested: $100,000.00 Settlement Amount: $38,000.00 Broker Comment: LPL SETTLED THIS MATTER SOLELY AS AN ACCOMMODATION AND BUSINESS DECISION TO AVOID POTENTIALLY COSTLY LITIGATION WITHOUT FINDING OF LIABILITY WHATSOEVER ON THE PART OF THE FINANCIAL ADVISOR. THE CUSTOMER MENTIONED TO LPL AND THE ADVISOR THAT THE LETTER WAS NOT MEANT TO BE A COMPLAINT AND THAT SHE WAS SATISFIED WITH THE SERVICES HE PROVIDED OVER THE YEARS.
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