Shon Flaharty (CRD#: 2666498) is a registered broker and investment advisor. Currently, Mr. Flaharty is employed at LPL Financial LLC (CRD#: 6413) in Clearwater, Florida. Early this year, an investor filed a complaint against this broker.
Here, the experienced investment fraud lawyers at the Sonn Law Group provide an overview of the complaint against LPL Financial broker Shon Flaharty. All information contained in this article has been sourced directly from FINRA’s BrokerCheck tool.
Investor Complaint: LPL Financial Broker Shon Flaharty
In May of 2018, a corporate customer filed a complaint against Flaharty Asset Management (FAM) and LPL Financial. Broker Shon Flaharty was the official representative for this client’s account.
According to FINRA records, the corporate customer alleged that Mr. Flaharty promoted the over-concentration of investments and unsuitable investment recommendations. This complaint was related to a specific exchange traded fund (ETF). Originally the corporate customer was seeking $566,319.57 in financial compensation, though the claim was eventually settled for $350,000.
Mr. Flaharty provided a comment noting that he was not named in the complaint as an individual and that, as an individual, he was not a party to this case. Without admitting or denying any wrongdoing or liability, the claim was settled.
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