Linda Sokol Francis Fired by LPL Financial

Linda Sokol Francis (CRD #: 811073) has been terminated by LPL Financial. This disclosure appears on her BrokerCheck record, accessed on July 11, 2024. Keep reading if you have questions regarding her alleged conduct. 

Employment Separation After Allegations 

On May 23, 2024, LPL Financial fired Linda Sokol Francis following allegations that she exercised discretion in brokerage accounts without written authorization. 

Unauthorized Trading

FINRA Rule 3260 limits discretionary trading by brokers to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm. Discretionary trading that takes place in an account that has not been approved is unauthorized.

Previous Investor Disputes 

Investors should know that there are five other investor disputes on her record. The most recent alleges she recommended a variable annuity that was unsuitable in light of her investor’s age. 

Variable Annuities 

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying securities. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Background Information 

Linda Sokol Francis has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 6TO Investment Company Products/Variable Contracts Representative Examination 
• Series 7TO General Securities Representative Examination 
• Series 22TO Direct Participation Programs Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 1 Registered Representative Examination 

She has registered with two firms: LPL Financial (CRD #: 6413) and Waddell & Reed (CRD #: 866). 

Kurta Law Can Help 

If you have worked with Linda Sokol Francis and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.