James Maendel, formerly of LPL Financial, Suspended from Securities Industry for Forty-Five Days
Have you lost money with financial advisor James Maendel of Troy, Michigan? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against James D. Maendel. FINRA suspended Maendel from the securities industry for forty-five days and fined him $10,000 after he was alleged to have submitted inaccurate switch forms and trade blotters regarding the sales of Unit Investment Trusts (or UITs). According to BrokerCheck.finra.org, James Maendel was terminated by LPL Financial in January 2015 after it was alleged that he engaged in short-term trading of UITs.
James Maendel was a financial advisor and registered representative of LPL Financial from September 2010 to January 2015. He has been affiliated with L.M. Kohn & Company from August 2015 to the present. He worked at branch offices in Farmington Hills and Troy, Michigan. Maendel has also been affiliated with Maendel Wealth.
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 Ann Arbor, Michigan; Denver, Colorado; and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Michigan and throughout the greater Detroit area. Attorney Aaron Israels is licensed to practice law in Michigan and previously lived in the Detroit area for many years. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial.
Click to view: Maendel, James FINRA AWC
Click to view: Maendel, James BrokerCheck 7.19.17
If you lost money with James Maendel 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.