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LPL Financial Fires Walter McKinney After Allegedly Executing Unauthorized Transactions

Walter McKinney (CRD #: 3268305), a broker registered with Vanderbilt Securities, was recently fired from his position at LPL Financial, according to his BrokerCheck record, accessed on April 17, 2022. Details surrounding his termination have been provided below.

Walter McKinney’s Termination Details

On January 24, 2022, LPL Financial fired Walter McKinney after he allegedly executed six securities transactions in a client’s account using discretion without written authorization.

FINRA Rule 3260

Unauthorized trading is a major problem in the world of finance. It occurs when brokers sell, buy or exchange securities without prior consent from their clients. FINRA prohibits unauthorized trading, and FINRA Rule 3260 states that no broker shall exercise trading discretion in a customer account unless that account has been approved for discretionary trading, both by the customer and the firm. 

Background Information

Walter McKinney 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 eight states.

Walter McKinney has also worked with the following firms:

  • National Planning Corporation (CRD#:29604)
  • Wells Fargo Advisors (CRD#:19616)
  • A. G. Edwards & Sons (CRD#:4)

Kurta Law Can Help

If you have worked with Walter McKinney and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or 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 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.

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