MOAB, UT
Have you lost money with financial advisor Scott Hansen from Moab, Utah? We are looking into allegations made by FINRA (the Financial Industry Regulatory Authority) against Scott Hansen. FINRA suspended Hansen from the securities industry for three months and fined him $7,500. Hansen was being investigated regarding allegations that he prepared a will and trust for a customer despite not being an attorney. Moreover, Hansen did not disclose this activity to his brokerage firm, LPL Financial, and charged the client over $5,000 for preparing the will and trust.
Scott Hansen was a registered representative and financial advisor with LPL Financial from 2005 to April 2020. He is also affiliated with Black Coffee Investment Management. He worked out of a branch office in Moab, Utah. Hansen was also terminated by LPL Financial for this conduct.
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. 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 Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Utah. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against LPL Financial.