Adam Fritzsche from Canterbury, Connecticut Suspended by FINRA
Have you lost money with financial advisor Adam Fritzsche from Canterbury, Connecticut? We are currently investigating allegations made against Adam S. Fritzsche, who previously worked with LPL Financial. FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against Mr. Fritzsche, alleging that made unsuitable investment recommendations to customers to invest in illiquid alternative investments called business development companies (or BCDs).
FINRA alleged that Adam Fritzsche purchased BCDs to at least three customers while he was affiliated with LPL Financial. Each of the customers were retired and had conservative investment objectives. FINRA alleges that the BCDs were unsuitable for these customers. FINRA also alleged that his recommendations resulted in undue concentrations of the customers’ liquid net worth. To settle these allegations, Fritzsche agreed to a one-year suspension in the securities industry.
Adam Fritzsche was a registered representative and financial advisor of LPL Financial from 1999 to December 2012. He was also affiliated with Citizens Securities from November 2012 to June 2016. Fritzsche worked at branch offices in Canterbury and New London, Connecticut.
Broker-dealers like LPL Financial have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, such as to refrain from excessively trading a customer’s account. When broker-dealers 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 Chicago; Denver, Colorado; Ann Arbor, Michigan; and the Seattle area. We represent investors in FINRA arbitration in all 50 states, including investors from Connecticut and New England in the past.
Click to view: Fritzsche, Adam FINRA AWC
Click to view: Fritzsche, Adam BrokerCheck 2.12.17
IF YOU LOST MONEY WITH ADAM FRITZSCHE 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.