Michael Tavel, formerly with LPL Financial, Suspended 18 Months by FINRA
Have you lost money with financial advisor Michael Tavel? We are looking into allegations made about Michael A. Tavel from Indianapolis, Indiana. FINRA (the Financial Industry Regulatory Authority) suspended Tavel from the securities industry for eight months and to pay a $20,000 fine. FINRA alleged that Tavel recommended that Tavel recommended investments to customers that were not approved by his brokerage firm, LPL Financial. Tavel allegedly sold investments in a business making commercial loans and an oil-extraction company.
Michael Tavel was a financial advisor and registered representative of LPL Financial from 2004 to April 2019. He is currently affiliated with Tavel Insurance and Financial Services. He worked in a branch office in Indianapolis, Indiana. Tavel was terminated by LPL Financial over this alleged conduct.
Brokerage firms like LPL Financial have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Ann Arbor, Michigan; and Phoenix, Arizona. We represent investors in FINRA arbitration proceedings in all 50 states, including throughout Indiana. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against LPL Financial.