Advisor Alert: Our Attorneys Are Investigating Stephen Lewis Franklin For Investment Fraud
Did You Lose Money Because of Steve Franklin?
Filed: November 6, 2023
Steve Franklin has been the subject of three (3) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Stephen Lewis Franklin.
Who Is Stephen Lewis Franklin?
- Advisor Name: Stephen Lewis Franklin
- Aliases: Steve Franklin
- CRD: 1288555
- Location: Louisville, Kentucky
- Current Employer: Currently Not Registered
- Previous Firms: LPL Financial LLC, Associated Securities Corp., and Intersecurities, Inc.
- Number of Known Customer Complaints: 3
- Can Stephen Franklin Be Sued: Yes, in Private Arbitration
- Can Stephen Franklin’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $175,000
- Highest Settlement: $2,500
If you have suffered investment losses by Stephen Franklin, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Steve Franklin For Broker Misconduct
As of this publication date, Stephen Franklin has been the subject of 3 customer disputes. Let’s review them below.
In March 2020, a FINRA arbitration was filed against or in reference to Stephen Franklin by a customer of LPL Financial LLC alleging that Mr. Franklin recommended claimant to invest in a Real Estate Investment Trust (“REIT”) that was unsuitable for the claimant’s risk tolerance and also failed to advise the client about the REIT’s risks and commissions in 2014. Per the customer, he/she lost over $25,000 because of Mr. Franklin’s actions. On August 23, 2021, Mr. Franklin settled the claim for $2,500, and some or all of this amount may have been paid by Mr. Franklin’s employer and/or insurance carrier.
In August 2003, a complaint was filed against or in reference to Stephen Franklin by a customer of LINSCO/Private Ledger Group alleging that Mr. Franklin made unsuitable and overly aggressive investment recommendations in 1999 resulting in losses of $175,000. Per the customer, he/she lost over $175,000 because of Mr. Franklin’s actions.
In October 2002, a complaint was filed against or in reference to Stephen Franklin by multiple customers of LINSCO/Private Ledger Group alleging that variable annuity investment was unsuitable and that subaccount investments were too aggressive. The customers complain because the market value of contract assets has declined. Per the customers, they lost over $153,494.99 because of Mr. Franklin’s actions.
How To File A Claim Against Steve Franklin (previously with LPL Financial LLC, Associated Securities Corp., and Intersecurities, Inc.) To Get Your Money Back.
If you have questions about Stephen Franklin, LPL Financial LLC, Associated Securities Corp., Intersecurities, Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll free at 1-800-950-6553.