Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Cobb (Cobb), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Cobb 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 $32,267.44 on April 18, 2024.
Client alleges that she gave advisor a firm order at a review meeting in July 2023 to purchase $50,000 worth of Eli Lilly shares (LLY). This purchase did not occur. Client reached out to advisor in March 2024 asking about the status of the purchase and why is had not been completed. He advised that he didn’t feel this was a good purchase for her at that time and they were set to discuss further. They met April 18, 2024 and the client says she made notes that she gave him an order and he was supposed to sell other mutual funds in the account and it seems possibly purchase another stock (NVO).