John Terzis, Formerly with LPL Financial, Barred by FINRA
SKOKIE, ILLINOIS
Have you lent money to financial advisor John Terzis from Skokie, Illinois? Our law firm is reviewing allegations made by FINRA, against John N. Terzis. FINRA barred Terzis from the securities industry after he “borrowed” money from a customer, in violation of FINRA Rules 3240 and 2010.
FINRA’s Letter of Acceptance, Waiver, and Consent with John Terzis reveals that in December 2019, he borrowed $200,000 from an elderly customer with health issues. Terzis paid monthly interest payments from February 2020 to December 2021, but that he stopped making interest payments thereafter. FINRA also alleged that given Terzis’ financial situation at the time of the lending arrangement, he did not have a reasonable expectation of being able to repay the loan in full.
John Terzis was a licensed financial advisor in Skokie, Illinois with LPL Financial from 2008 to March 2022. He had been in the securities industry since 1988. Terzis was also fired by LPL Financial, and he was the subject of another customer complaint in 2005. Terzis also operated Oakton Investment Management and Financial Resources Group.
Terzis was subject to FINRA Rules, including Rule 3240, which provides that financial advisors can borrow funds from customers under limited circumstances only. In addition, the advisor must get prior approval from the brokerage firm.
Israels & Neuman’s attorneys are licensed to practice law in Illinois. Attorney David Neuman grew up in the Chicagoland area and has represented hundreds of Illinois investors. We also have previously represented investors against LPL Financial.
View Terzis, John BrokerCheck 12.23.22