Western International Securities was acquired by LPL this year.
“The arbitration panel felt that [the advisor] was disrespecting the process,” the clients' attorney said.
“Private credit and infrastructure remain attractive," LPL said.
David Underwood sold unregistered Heartland fund securities to 20 clients, including his wife, according to the SEC.
“Professional conduct is one of those key issues a board has a responsibility to measuring and understanding,” one senior industry executive said.
LPL's former CEO Dan Arnold this summer said it was parting ways with two large hybrids.
“This is on the B. Riley Securities side of the business, the dealmaking side,” one senior industry executive said.
"The company has reached new highs by every measure under his leadership,” one recruiter said.
“This is progress for GPB investors and their financial advisors," said one senior brokerage executive.
Ramsey Solutions’ unsolicited text messages allegedly caused the plaintiff “actual harm."
