Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ilan Tsapovski (Tsapovski), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Tsapovski recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $36,588.87 on March 24, 2020.
CLIENT OPENED CITI ADVISOR NON-DISCRETIONARY MANAGED ACCOUNT ON 2/14/2020. CLIENT ALLEGED THAT HE GAVE REGISTERED REPRESENTATIVE EXPLICIT INSTRUCTIONS THAT HIS MONEY WAS TO BE INVESTED IN A TRIPLE TAX FREE MUNICIPAL BOND FUND, AND WAS TOLD IF HE SHOULD EVER NEED ANY OF THE FUNDS HE COULD GET THEM ON A DAY’S NOTICE. INSTEAD OF FOLLOWING HIS INSTRUCTIONS, CLIENT ALLEGED REGISTERED REPRESENTATIVE BOUGHT AND SOLD VARIOUS SECURITIES OVER A PERIOD OF A MONTH DESPITE HIS OBJECTIONS. CLIENT CLAIMED THAT HE TRIED TO LIQUIDATE HIS ACCOUNT WHEN IT WAS DOWN APPROXIMATELY $20k ON MARCH 16 BUT WAS UNABLE TO DO SO UNTIL MARCH 18. CLIENT STATED THAT HIS ACCOUNT LOST APPROXIMATELY $37K AND HE WANTS TO RECOVER THE FUNDS. OCCURRENCE DATE: 2/18/2020 – 3/18/2020. REALIZED LOSSES: $36,588.87.