Published On: May 15, 2017

Stoltmann Law Offices continues to investigate Roger Zullo, a broker with LPL Financial in Massachusetts. Recently, a complaint was filed against Zullo and the firm by the Commonwealth of Massachusetts Securities Division, after Zullo allegedly fabricated the financial suitability profiles of numerous LPL clients, selling them large, illiquid, unsuitable, high-commission variable annuities at substantial upfront profits to himself and the firm. The state alleged that over three years, Zullo and LPL received more than $1,825,000 in variable annuity commissions alone over the course of three years and 98% of that amount represented commissions from the sale of the same annuity product-the Polaris Platinum III (B Shares) variable annuity. It was alleged that Zullo fabricated information about the product, claiming it was suitable for investors when it was not and recommending it to clients for whom it was not suitable, based on their age, net worth and investment objectives. Variable annuities can be highly risky and illiquid and are not suitable for all investors. LPL then rewarded Zullo by including him in its’ “Chairman’s Club” for top annuity production. It is the firm’s responsibility to reasonably supervise its employees. If it fails to do so, it may be liable for investment losses.
According to online, public records, Mr. Zullo was previously registered with Guardian Investor Services Corp in New York, New York from November 1988 until May 1999, Park Avenue Securities in New York from May 1999 until August 2004 and LPL Financial in Boston, Massachusetts from August 2004 until December 2016. He has four customer disputes against him, three of which are currently pending. He is currently not registered within the industry. If you are interested in speaking to an attorney about your losses with Roger Zullo and LPL, please call our Chicago-based law firm today at 312-332-4200 to speak to an attorney about your losses. We are securities attorneys who sue firms like LPL on a contingency fee basis in order to recover losses for investors. The call is free with no obligation so please call soon.


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