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Investor Alleges Louis Berteotti Misrepresented Life Insurance Policy

Louis Berteotti (CRD #: 804800), a broker formerly registered with LPL Financial, allegedly made misrepresentations, according to his BrokerCheck record, accessed on May 7, 2025. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On March 3, 2025, an investor filed a dispute alleging that Louis Berteotti misrepresented the terms of a variable life insurance policy purchased by the client in 1992. This dispute was denied by the firm.

Investors should know, however, that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence the purchase and sale of securities. Misrepresenting an investment’s features, risks, fees, or potential returns violates this rule.

Background Information

Louis Berteotti has passed the following exams:

  • General Securities Principal Examination – Series 24
  • General Securities Representative Examination – Series 7TO
  • Securities Industry Essentials Examination – SIE
  • Registered Representative Examination – Series 1
  • Uniform Investment Adviser Law Examination – Series 65
  • Uniform Securities Agent State Law Examination – Series 63

He previously worked for the following firms:

  • LPL Financial (CRD#:6413)
  • AXA Advisors (CRD#:6627)
  • The Equitable Life Assurance Society of the United States (CRD#:4039)

Kurta Law Can Help

If you worked with Louis Berteotti 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 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. 

 

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