Richard Ceffalio of LPL Financial Fired

Israels & Neuman, PLC
Losses with Richard Ceffalio of LPL Financial in Arlington Heights, IL
Arlington Heights, Illinois

If you’re a past or present client of financial advisor Richard Ceffalio from Arlington Heights, Illinois, our law firm is investigating allegations against him. In May 2024, Ceffalio was terminated by LPL Financial due to claims that he solicited a loan from a client. Typically, financial advisors are prohibited from borrowing from clients, with few exceptions.

FINRA launched an investigation into Ceffalio’s actions. Additionally, he has faced four customer complaints since July 2023, including an allegation of forging a client’s signature on a line of credit agreement.

Ceffalio was employed with LPL Financial from November 2019 until May 2024, working out of an Arlington Heights, Illinois office. He also previously worked at Wells Fargo.

Under securities rules and regulations, LPL Financial is mandated to implement written supervisory and compliance procedures to oversee Ceffalio’s conduct. If LPL Financial failed to adequately supervise him, they could be held liable for any client losses.

Israels & Neuman represents investors nationwide, including those in the Chicagoland area. Attorneys Aaron Israels and David Neuman are licensed to practice in Illinois. Attorney Neuman is a native of the Chicago suburbs and attended the University of Illinois and Northern Illinois University.

You can access Richard Ceffalio’s BrokerCheck report here.

If you lost money with Richard Ceffalio or LPL Financial, contact the law firm of ISRAELS & NEUMAN at (616) 280-4303 or (206) 795-5798 for a Free evaluation of your case.

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