Last Updated: November 2024 (Battle Ground, WA)
National securities fraud lawyers at Patil Law P.C. are investigating current LPL Financial LLC broker Leigh Allen (CRD #5711971) regarding allegations of forgery and unauthorized trading in variable annuity accounts.
The investigation stems from a recently filed customer complaint alleging serious misconduct in the handling of variable annuity transactions in April 2024.
Critical Insights About Battle Ground Financial Advisor Leigh Allen
- Advisor Name: Leigh A. Allen
- CRD: 5711971
- Location: Battle Ground, WA
- Current Employer: LPL Financial LLC
- Classification: Registered Representative & Investment Adviser Representative
- Primary Location: Battle Ground, WA
- Can Leigh Allen be sued in FINRA arbitration: Yes
- Customer Disputes: One pending complaint
- Current Registrations: Licensed in 5 states
- Years of Experience: Since 2009
- Previous Employer: Wedbush Securities Inc. (2009-2017)
- Professional Qualifications: Series 7, 66 licenses
- Business Name: Excell Wealth Partners (DBA for LPL business)
- Current Status: Active with LPL Financial
Details of Current Investigation
A customer complaint filed in August 2024 alleges:
- Forgery of customer documents
- Unauthorized trading in variable annuity accounts
- Transactions occurring in April 2024
- Damages alleged to exceed $5,000
- Potential violations of firm policies and industry regulations
Analysis of Alleged Misconduct
The allegations raise serious concerns about:
- Document authenticity
- Trading authorization
- Client consent practices
- Account handling procedures
- Supervision of annuity transactions
- Compliance with firm policies
- Protection of client interests
Regulatory Framework and Investor Protection
SEC Regulation Best Interest
Reg BI requires:
- Proper trading authorization
- Authentic documentation
- Client consent for transactions
- Accurate recordkeeping
- Protection of client interests
- Compliance with firm procedures
FINRA Rules and Their Significance
FINRA Rule 2010 mandates:
- High standards of commercial honor
- Ethical business practices
- Truthful communications
- Proper documentation
- Client authorization
- Accurate records
FINRA Rule 4511 requires:
- Accurate books and records
- Proper documentation maintenance
- Original signatures when required
- Preservation of client authorizations
- Proper transaction records
Professional Background
Ms. Allen’s career includes:
- Entry into securities industry in 2009
- Eight-year tenure at Wedbush Securities
- Current position at LPL Financial since 2017
- Investment adviser registration
- Multiple state licenses
- Variable annuity experience
Red Flags for Investors
- Pending forgery allegations
- Unauthorized trading claims
- Variable annuity transactions
- Documentation issues
- Recent misconduct allegations
- Authorization concerns
- Client consent questions
- Recordkeeping issues
Implications for Current and Former Clients
Current and former clients should:
- Review all account documentation
- Verify transaction authorizations
- Examine account statements
- Check signature authenticity
- Monitor account activity
- Document communications
- Verify trade confirmations
- Review annuity contracts
- Assess portfolio changes
- Consider independent review
Patil Law P.C. Will Help You Recover Your Investment Losses
If you have concerns about unauthorized transactions or suspicious signatures in your account handled by Ms. Allen, please contact Attorney Patil online or call (800) 950-6553 for a free initial consultation. Our securities fraud attorneys work on a contingency fee basis, meaning we only get paid if we help you recover money.
