SPOKANE, WASHINGTON – Scott Rahn of LPL Financial, Subject of Washington Complaint
Have you lost money with financial advisor Scott Rahn of Spokane, Washington? The Law Firm of Israels & Neuman may be able to help you recover your investment losses. We are investigating allegations made by the Washington Securities Division. In 2021, Washington alleged that Rahn made recommendations to several senior customers to liquidate variable annuities in order to invest in principal protected notes.
The senior investors incurred surrender charges, and Washington alleged that these transactions were unsuitable. To settle these allegations, Rahn agreed to hire an independent consultant to review, on a quarterly basis, all transactions for his advisory business, for a two year period.
Scott Rahn was a financial advisor and registered representative of LPL Financial from February 2014 to October 2019. He was also affiliated with Rahn Wealth Management from February 2020 to the present. He worked at branch offices in Spokane, Washington.
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 Seattle, Washington; Vancouver, Washington; Denver, Colorado; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout the State of Washington and the Pacific Northwest. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial.
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