Sharif Sharif Fired from LPL Financial

Sharif Sharif (CRD #: 2343413), a broker formerly registered with LPL Financial, was fired from the firm, according to his BrokerCheck record, accessed on February 16, 2023. Read on if you want to know more about his alleged conduct as a broker.

Termination from LPL Financial

On December 20, 2022, Sharif Sharif was fired from LPL Financial after he allegedly failed to properly disclose an outside business activity and notify the firm before participating in private investments.

FINRA Rule 3270

FINRA Rule 3270 requires brokers to disclose to their firm any business activities they engage in outside it, including any compensation they expect to receive.

FINRA Rule 3280

FINRA Rule 3280 requires brokers to seek approval from their firm before engaging in private securities transactions.

Other business activities

Sharif Sharif’s detailed BrokerCheck report notes that he is involved in Sharif Wealth Strategies, doing business as The Other Side of Medicine.

Investor Dispute

On July 5, 2022, an investor filed a dispute alleging that Sharif Sharif gave an unsuitable recommendation of a private placement and also made misrepresentations about the investment between March 1, 2022, and the date of filing. The client received a settlement of $500,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their tax status, risk tolerance, and other investments.

Investors who rely on their broker for recommendations may be able to recoup their losses by pursuing FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise unethical methods to influence investors’ decisions. Misrepresenting an investment’s fees, risks, or other features violates this rule.

Background Information

Sharif Sharif has passed the following exams:

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

He has also worked for the following firms:

• LPL Financial (CRD#:6413)
• Woodbury Financial Services (CRD#:421)
• AXA Advisors (CRD#:6627)
• Mony Securities Corporation (CRD#:4386)

Kurta Law Can Help

If you worked with Sharif Sharif 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.