Travis Lippmann Allegedly Violated SEC Rules and Regulations

Travis Lippmann (CRD #: 5908823), a broker registered with Spartan Capital Securities, is the subject of his fifth investor dispute. This is according to his BrokerCheck record, accessed on May 31, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On March 5, 2024, an investor alleged that Travis Lippman violated SEC regulations and SEC rules. The investor further alleges a breach of fiduciary duty. 

According to allegations filed on July 30, 2021, Travis Lippman engaged in unsuitable trading. The investor sought $853,231.33 and settled for $120,000. 

In a dispute dated January 10, 2020, an investor alleged that Travis Lippman breached his fiduciary duty, recommended unsuitable investments, and made a misrepresentation. The investor sought $450,000 and the dispute settled for $90,000. 

There are two older disputes on his record. 

Fiduciary Duties

Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.) 

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of securities rules and regulations violate this rule. 

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Background Information 

Travis Lippmann has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination

He is a registered broker in 46 states, D.C., Puerto Rico, and the Virgin Islands. 

Travis Lippmann has registered with ten firms. These are the five most recent: 

• Spartan Capital Securities (CRD #: 146251) 
• Joseph Stone Capital (CRD #: 159744) 
• Primary Capital (CRD #: 127921) 
• Newbridge Securities Corporation (CRD #: 10465) 
• Maxim Group (CRD #: 120708) 

Kurta Law Can Help 

If you have worked with Travis Lippmann 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.