Philip Wieloch Fined by State of Florida

Philip Wieloch (CRD #: 2819327), a broker registered with LPL Financial, was the subject of a state regulatory action, according to his BrokerCheck record, accessed on June 22, 2025. Investors may have also worked with him through Phil Wieloch Financial. If you want to know more about his alleged conduct as a broker, keep reading.

Florida Regulatory Action

On May 5, 2025, the Florida Office of Financial Regulation alleged that Philip Wieloch violated Florida Statutes Section 517.12(4) by rendering investment advice without being registered with the state as an associated person of an investment advisory firm or a federal covered advisor.

The Office of Financial Regulation ordered Philip Wieloch to cease and desist from violations of the Florida Statutes and to pay a fine of $10,000.

Florida Statutes

Florida Statutes Section 517.12(4) prohibits investment advisers from conducting business in the state from a branch office unless that office is registered with the Office of Financial Regulation.

FINRA Rule 2010

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

What are blue sky laws?

Blue sky laws are state-level regulations that provide investors with an extra layer of protection against securities fraud. They frequently also define what investments must register with the state securities board.

Investor Disputes

On August 17, 2018, an investor alleged that Philip Wieloch failed to sell certain Collateralized Mortgage Obligations (CMOs) before they lost value between 2002 and 2008. The client sought $310,000 in damages but the dispute was denied by the firm.

In a dispute filed on July 11, 2016, an investor alleged that Philip Wieloch failed to inform them of a contract rider. The firm denied this dispute.

However, investors should be aware that they can still seek out FINRA arbitration and potentially recover their losses even if a firm denies their dispute.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of information relating to investments, such as their features, fees, or limitations.

Background Information

Philip Wieloch has passed the following exams:

• General Securities Principal Examination – Series 24
• Investment Company Products/Variable Contracts Principal Examination – Series 26
• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Investment Company Products/Variable Contracts Representative Examination – Series 6
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

Philip Wieloch is a registered broker in seven states and a registered investment adviser in Connecticut, Florida, and Texas.

He has also worked for the following firms:

• Calton & Associates (CRD#:20999)
• Capital Financial Services (CRD#:8408)
• Investors Capital Advisory (CRD#:30613)
• Investors Capital Corporation (CRD#:30613)
• Eastern Point Advisors (CRD#:107123)
• Quick & Reilly (CRD#:11217)
• FIS Securities (CRD#:30533)
• MetLife Securities (CRD#:14251)
• Metropolitan Life Insurance Company (CRD#:4095)
• Walnut Street Securities (CRD#:15840)
• Hartford Equity Sales Company (CRD#:6604) 

Kurta Law Can Help

If you worked with Philip Wieloch 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.