Published On: July 27, 2015

Stoltmann Law Offices is investigating Larry M. Phillips of The Phillips Group, in Woodland Hills, California. Phillips entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) over his alleged misconduct relating to overcharging customers. While Phillips was registered with Purshe Kaplan Sterling Investments (PKS) he overcharged several customers by charging markups and investment advisory fees. He purchased securities, Notes and Municipal Securities for several clients. He then allocated the marked-up products to those same client’s investment advisory accounts. He charged advisory fees on the same securities for which he had charged a markup. FINRA fined him $7,500 and suspended him from the securities industry for 45 days, and ordered him to pay over $3,000 in restitution to the customers he took advantage of. If you invested money with Larry M. Phillips, please call our law offices in Chicago at 312-332-4200 to speak to one of our attorneys. We may be able to help you recover your financial losses in the FINRA arbitration forum.

Disclaimer

The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.

Chicago Investment Fraud Attorneys Offering Nationwide Representation to Investors

If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

Stoltmann Law Securities Investment Fraud Attorneys