LPL Financial Adviser Broker Barred by FINRA for Refusal to Testify at His Own Hearing

The Financial Regulatory Authority has barred former LPL financial adviser broker Philip Nalesnik after Nalesnik failed to provide testimony in a hearing involving his alleged business misconduct.

Broker’s Background

Nalesnik worked in the securities industry since 2002. According to FINRA’s BrokerCheck website, Nalesnik started his career at IDS Life Insurance Company. Prior to working for LPL in 2008, Nalesnik spent three years with CCO Investment Services Corps.

Nalesnik has been the subject of at least 5 customer complaints during his career. LPL financial advisor Nalesnik was fired in July 2018 after determining that the broker had violated company policy and participated in an outside business activity. When asked about these activities, Nalesnik failed to respond in a timely manner to the firm’s inquiries.

Although Nalesnik neither admitted nor denied the findings, FINRA has barred Nalesnik from acting as a broker or otherwise associating with a broker-dealer.

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