MICHAEL LOUIS STONE is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 551 NEWNAN STREET, CARROLLTON, GA, 30117.
MICHAEL LOUIS STONE has worked at LPL FINANCIAL LLC since July 15, 2010
Disclosure History
MICHAEL LOUIS STONE has 1 Disclosure Event(s).
Date: June 01, 2010 Category: Employment Separation After Allegations Firm Name: EDWARD JONES Termination Type: Discharged Allegations: THE FIRM'S INTERNAL REVIEW REVEALED THAT STONE INACCURATELY RECORDED TIMECARD HOURS FOR THREE NON-LICENSED ASSOCIATES FOR WORK IN STONE'S BRANCH OFFICE. THESE PERSONS WERE ALSO RELATED TO STONE AND RECORDS REVEALED THEY HAD NOT WORKED THE AMOUNT OF HOURS AS SUBMITTED BY STONE, RESULTING IN AT LEAST $1,600 IN PAYMENTS DIRECTLY FROM THE FIRM. Broker Comment: ALL 3 FAMILY MEMBERS WERE PRE-APPROVED BY THE FIRM AS OCCASIONAL EMPLOYEES DATING BACK TO 4/16/2001. MY UNDERSTANDING WAS ALL EXPENSES RELATED TO THE PAY RECEIVED BY THESE FAMILY MEMBERS OVER THESE PAST 10 YEARS WAS CHARGED TO MY MONTHLY COMMISSIONS. THE DETAILS OF THE $1,600 OF PAYMENTS FROM THE FIRM WAS NEVER REVEALED TO ME, AND I WAS DENIED THE OPPORTUNITY TO REIMBURSE THE FIRM FOR ANY POSSIBLE EXPENSES IT INCURRED.
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