Cheryl Stallings, formerly with LPL Financial, Barred from Securities Industry
Have you lost money with financial advisor Cheryl Stallings of Amarillo, Texas? We are investigating allegations made by the Financial Industry Regulatory Authority (FINRA) against Cheryl Ann Stallings. Stallings was barred from the securities industry regarding allegations that she misused customer funds and failed to disclose that she had control over two customers’ bank accounts, and that she received $248,000 as a beneficiary of a customer’s estate. FINRA alleges that she failed to disclose these facts to her brokerage firm, LPL Financial.
Cheryl Stallings was a financial advisor and registered representative of LPL Financial from September 2009 to August 2017. She was also affiliated with Kestra Investment Services from August 2017 to February 2018. She worked at a branch office in Amarillo, Texas. Stallings was also terminated by LPL Financial for this 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; Ann Arbor, Michigan; and Seattle, Washington. We represent investors in FINRA arbitration in all 50 states, including investors throughout Texas. We have represented over one thousand investors against numerous brokerage firms, including LPL Financial and Kestra.
If you lost money with Cheryl Stallings or LPL Financial, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.