Edward Munoz Fired from LPL Financial For Allegedly Violating Firm Policy

Edward Munoz (CRD #: 5377729), a broker formerly registered with LPL Financial, allegedly violated firm policy, according to his BrokerCheck record, accessed on April 11, 2023. If you want to know more about his alleged conduct as a broker, keep reading.

Termination from LPL Financial

On March 3, 2023, Edward Munoz was fired from LPL Financial for allegedly using a messaging application not approved by the firm to communicate with a client.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Investor Disputes

On April 7, 2021, an investor alleged that Edward Munoz engaged in “gross incompetency” with regard to the management of the client’s account and also gave poor investment recommendations. This dispute was settled for $95,862.13.

In a dispute filed on January 11, 2021, multiple investors alleged that Edward Munoz invested their account too aggressively, resulting in poor performance and losses. These clients received a settlement of $157,662.46.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must examine the information in an investor’s profile, such as their risk tolerance, tax status, and age.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

What is broker negligence?

Brokers may act in many negligent ways. Common examples include unsuitable investment recommendations, misrepresentations or omissions of fact, and failing to supervise other brokers.

Investors who feel their losses are the result of broker negligence may be able to recover their funds through FINRA arbitration.

Background Information

Edward Munoz has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

He previously worked for the following firms:

• LPL Financial (CRD#:6413)
• Principal Securities (CRD#:1137)
• G.F. Investment Services (CRD#:132939)
• MSI Financial Services (CRD#:14251)
• Park Avenue Securities (CRD#:46173)
• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
• AXA Advisors (CRD#:6627)
• Ameriprise Financial Services (CRD#:6363)

Kurta Law Can Help

If you worked with Edward Munoz and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.