Israels & Neuman, PLC Investigates Elias Hakiman, Formerly of LPL Financial

SEAL BEACH, CALIFORNIA –  Have you lost money with financial advisor Elias Hakiman, formerly of LPL Financial in Seal Beach, California?  We are looking into allegations made against Elias Hakiman. Elias Hakiman has been the subject of a customer complaint, alleging that he engaged in churning or excessively trading a customer account, in addition to investing the customer’s money in speculative ventures.  LPL Financial fired Hakiman for this conduct and settled the case for $275,000.

Elias Hakiman was a registered representative of LPL Financial from 2005 to June 2019.  He has worked at branch offices in Seal Beach, California.  Hakiman was also suspended by FINRA for three months for borrowing money from a customer without notifying LPL Financial.

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; Phoenix, Arizona; and Ann Arbor, Michigan.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in California.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against LPL Financial.

View BrokerCheck:  Hakiman, E. BrokerCheck 6.23.21

If you lost money with Elias Hakiman or LPL Financial, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.