Former LPL Financial Advisor Sharif Azmi Sharif Suspended

ELMHURST, ILLINOIS     Have you invested with financial advisor Sharif Azmi Sharif from Elmhurst, Illinois? This advisor has been suspended for nine months and fined $5,000 by FINRA.

According to FINRA’s AWC, Sharif was a founding member of a crypto mining company.  He and a business partner solicited investors (some of whom were also clients of his former brokerage firm, LPL Financial) to invest in his crypto mining company.  Eventually he raised $900,000 for his company without disclosing such to his brokerage firm.

Sharif Azmi Sharif held his securities license with LPL Financial from July 2018 to December 2022, and later went to Fourstar Wealth Advisors.  He worked in Elmhurst, Illinois, and was terminated regarding these allegations.

Under FINRA Rule 3110, brokerage firms are required to have written supervisory and compliance procedures to monitor its representatives.  If LPL Financial failed to reasonably supervise its financial advisor, it may be liable for customer losses.

Our firm has represented numerous investors throughout Illinois and have sued dozens of brokerage firms in the past.  Attorney David Neuman grew up in Addison, Illinois and still maintains his Illinois law license.

View BrokerCheck report here. 

            View FINRA AWC here. 

If you lost money with Sharif Azmi Sharif or LPL Financial, please Contact Us at 206-795-5798 for a free evaluation of your case.