Alvaro Mauricio Jiron: LPL Financial Advisor Faces Pending Offshore Annuity Misrepresentation Claim

Coral Gables, FL | January 13, 2026

Coral Gables financial advisor Alvaro Mauricio Jiron (CRD# 4226147) is defending himself against a pending FINRA arbitration case alleging he misrepresented an offshore annuity product as “safe and secure.” According to FINRA BrokerCheck records, the complaint was filed on August 11, 2025, seeking damages between $100,000 and $500,000 for alleged misrepresentation of an offshore annuity investment made during Jiron’s tenure at Infinex Investments, Inc. Jiron, who currently serves as a Financial Consultant with LPL Financial LLC in Coral Gables, has two customer disputes on his record, including one denied complaint from 2023 involving a mutual fund liquidity disclosure issue.

Jiron has been in the securities industry since 2000 and is registered as both a broker and an Investment Adviser Representative. He works from LPL Financial’s Coral Gables branch office and also serves as SVP, Financial Consultant at South State Bank.

BrokerCheck Snapshot

Name: Alvaro Mauricio Jiron
CRD #: 4226147
Firm: LPL Financial LLC
Location: Coral Gables, FL
Years in Industry: 25+
Number of Disclosures: 2 (1 pending, 1 denied)

Pending Arbitration Case Against Alvaro Mauricio Jiron

FINRA Case #25-01641

Date Filed: August 11, 2025
Firm Where Misconduct Allegedly Occurred: Infinex Investments, Inc.
Status: Arbitration Pending

Allegations: Financial professional misrepresented this product as “safe and secure”

Product Type: Offshore Annuity
Alleged Damages: Between $100,000 and $500,000

According to Jiron’s statement in the BrokerCheck report, “Client signed disclosures on Infinex approved product and the transaction and rationale was then reviewed and approved by Infinex compliance. As per Infinex, client withdrew more than initially invested.”

This statement raises important questions about the nature of the alleged misrepresentation. While Jiron claims the client signed disclosures and that compliance approved the transaction, the client alleges the product was misrepresented as “safe and secure.” The fact that the client allegedly “withdrew more than initially invested” suggests there may be dispute about actual losses versus claimed losses.

Pattern of Complaints / Risk Factors

While each case is unique, complaints involving misrepresentation of investment products and inadequate disclosure of liquidity restrictions may indicate concerns related to product explanation, risk communication, and ensuring clients fully understand investment features before purchase. Investors should carefully review account statements and seek legal guidance if similar issues occurred.

Understanding Offshore Annuities

The pending complaint involves an “offshore annuity” – a type of insurance product issued by a company domiciled outside the United States. These products carry unique risks and complexities that distinguish them from traditional domestic annuities:

Characteristics of Offshore Annuities:

• Issued by foreign insurance companies
• Often domiciled in jurisdictions like Bermuda, Cayman Islands, or other offshore locations
• May offer different tax treatment than U.S.-based annuities
• Typically sold to high-net-worth individuals
• Often involve complex structures and limited regulatory oversight

Potential Risks:

• Regulatory uncertainty – Less oversight than U.S.-regulated insurance products
• Counterparty risk – Reliance on foreign insurer’s financial strength
• Liquidity restrictions – May have limited withdrawal options or surrender penalties
• Currency risk – Potential exposure to foreign exchange fluctuations
• Tax complexity – Complex U.S. tax treatment and reporting requirements
• Recovery difficulty – Challenges pursuing claims against foreign entities
• Lack of state guarantee funds – No protection from state insurance guarantee associations

Why “Safe and Secure” May Be Misrepresentation:

If a broker represents an offshore annuity as “safe and secure” without adequately disclosing:

• The foreign jurisdiction risks
• Liquidity restrictions
• Potential tax complications
• Lack of U.S. regulatory protections
• Counterparty risks

Such representations could constitute misrepresentation and breach of the broker’s duty to provide accurate and complete information to clients.

Previous Denied Complaint

Jiron’s BrokerCheck record includes one complaint that was denied with no payment:

Mutual Fund Liquidity Disclosure Complaint (2023)

Date Complaint Received: August 31, 2023
Firm: Infinex Investments, Inc.
Status: Denied (September 22, 2023)

Allegations: Client claimed they were not informed the mutual fund could only be tendered on a quarterly basis.

Product Type: Mutual Fund
Alleged Damages: $125,350.79
Settlement: $0.00 (Denied)

This complaint, also from Jiron’s time at Infinex Investments, involved similar disclosure issues – specifically, allegations that the client was not adequately informed about liquidity restrictions on a mutual fund investment. The complaint was denied within approximately three weeks.

The similarity between this denied complaint (liquidity disclosure issues) and the pending offshore annuity complaint (misrepresentation of product safety and features) suggests a potential pattern worth noting, even though the first complaint was denied.

The Significance of Product Disclosure

Both complaints against Jiron involve allegations related to product disclosure and representation:

1. Mutual fund complaint: Client claimed they weren’t informed about quarterly tender restrictions
2. Offshore annuity complaint: Client alleges product was misrepresented as “safe and secure”

These complaints highlight the critical importance of complete and accurate disclosure when recommending investment products, particularly those with:

• Liquidity restrictions
• Complex structures
• Limited regulatory oversight
• Unique risks not present in traditional investments

Under FINRA rules and securities laws, brokers must:

• Provide accurate information about investment products
• Disclose all material risks
• Avoid making misleading statements about safety or security
• Ensure clients understand liquidity restrictions before investing
• Not overstate the safety of investment products

About Alvaro Mauricio Jiron’s Background

According to FINRA records, Alvaro Mauricio Jiron has been in the financial services industry since 2000 – more than 25 years. His employment history includes:

Current Position:

• LPL Financial LLC (February 2023 – Present) – Financial Consultant, Coral Gables, FL
• South State Bank (February 2023 – Present) – SVP, Financial Consultant, Coral Gables, FL

Previous Firms:

• Infinex Investments, Inc. (July 2016 – February 2023) – Investment Executive, Coconut Grove, FL
• Coconut Grove Bank (July 2016 – February 2023) – Vice President, Miami, FL
• J.P. Morgan Securities LLC (January 2014 – July 2016) – Private Client Advisor, Miami Lakes, FL
• LPL Financial LLC (November 2009 – January 2014) – Miami, FL (previous tenure)
• Ameriprise Financial Services, Inc. (March 2009 – June 2009) – Minneapolis, MN
• VALIC Financial Advisors, Inc. (December 2003 – August 2004) – Miami, FL
• Merrill Lynch, Pierce, Fenner & Smith Incorporated (October 2001 – December 2003) – Pennington, NJ
• Charles Schwab & Co., Inc. (November 2000 – August 2001) – Westlake, TX

Jiron started his career at major wirehouses (Charles Schwab, Merrill Lynch) and has worked at several prominent firms including J.P. Morgan and LPL Financial. Both complaints on his record occurred during his tenure at Infinex Investments (2016-2023), where he worked alongside Coconut Grove Bank.

Securities Licenses:

• General Securities Representative Examination (Series 7) – passed March 2009
• Securities Industry Essentials Examination (SIE) – passed October 2018
• Uniform Combined State Law Examination (Series 66) – passed April 2009
• Uniform Investment Adviser Law Examination (Series 65) – passed October 2001
• Uniform Securities Agent State Law Examination (Series 63) – passed December 2000

Jiron is currently licensed in 3 U.S. states and territories (Florida, Georgia, and New York) and serves as an Investment Adviser Representative, which subjects him to fiduciary duty standards in his advisory capacity.

The Return to LPL Financial

Notably, Jiron is now in his second tenure at LPL Financial. He previously worked for LPL from November 2009 to January 2014, then left for J.P. Morgan Securities. After working at Infinex Investments from 2016 to 2023, he returned to LPL Financial in February 2023.

The pending complaint involves conduct that allegedly occurred at Infinex Investments (his previous firm), but the complaint was filed in August 2025 – more than two years after Jiron left Infinex and joined LPL Financial. This timing is common in securities complaints, as investors often don’t discover issues with their investments until months or years after the initial purchase.

Bank-Affiliated Financial Services

An interesting aspect of Jiron’s career is his work with bank-affiliated broker-dealers. He worked at:

• Coconut Grove Bank (while affiliated with Infinex Investments)
• South State Bank (while affiliated with LPL Financial)

Bank-affiliated investment programs involve banks partnering with broker-dealers to offer investment services to bank customers. While these programs can provide convenience, they also raise important considerations:

Potential Confusion:

• Bank customers may not understand that investment products are NOT FDIC-insured
• May assume investments carry the same safety as bank deposits
• Bank relationship may create misplaced trust

Regulatory Requirements:

• Banks must display clear disclosures that investment products are not bank deposits
• Must clarify that investments are not FDIC-insured
• Must explain that investments can lose value

If an offshore annuity was offered through a bank-affiliated program and represented as “safe and secure,” this could be particularly problematic given the potential for customer confusion between bank products and investment products.

LPL Financial: Major Independent Broker-Dealer

LPL Financial LLC is one of the nation’s largest independent broker-dealers, serving thousands of financial advisors across the country. The firm has faced regulatory scrutiny over the years and has numerous brokers with complaint histories.

Investors who have experienced issues with LPL Financial advisors should understand that the firm itself may be liable for failure to supervise its registered representatives, even when the alleged misconduct occurred at a previous firm if there were warning signs in the broker’s history.

Infinex Investments: Where Both Complaints Occurred

Both complaints against Jiron involve activities at Infinex Investments, Inc., where he worked from July 2016 to February 2023. Infinex is a broker-dealer that provides investment services primarily through community banks and credit unions.

The fact that both complaints arose from the same firm during the same employment period raises questions about:

• Supervisory oversight at Infinex during 2016-2023
• Product approval processes for offshore annuities and interval funds
• Disclosure practices and client communication procedures
• Training provided to registered representatives on complex products

Red Flags: Warning Signs of Product Misrepresentation

Based on the allegations against Jiron, investors should watch for these warning signs:

1. “Safe and secure” representations – Claims that investments are “safe” without discussing risks
2. Downplaying liquidity restrictions – Failure to fully explain when you can access your money
3. Offshore products – Complex products from foreign jurisdictions may lack U.S. protections
4. Bank setting confusion – Assuming bank-sold investments carry same protections as deposits
5. Vague explanations – Not providing clear, written documentation of product features
6. Pressure to invest quickly – Rush to invest before fully understanding the product
7. Complexity without clarity – Products too complex to explain simply should raise concerns
8. Emphasis on safety over returns – “Conservative” products that turn out to have significant risks
9. Glossing over prospectus – Discouraging careful review of offering documents
10. Tax benefits without tax risks – Discussing tax advantages without explaining tax complexities

The Importance of Written Documentation

Jiron’s defense in the pending complaint emphasizes that “Client signed disclosures on Infinex approved product.” This highlights an important point: while signed disclosures are important, they don’t necessarily protect brokers if:

• The broker made oral misrepresentations contradicting written disclosures
• The disclosure documents were not adequately explained
• The broker rushed the client through the paperwork
• The broker mischaracterized the risks despite disclosure language
• The client was not given adequate time to review and understand the documents

Courts and arbitration panels recognize that signed documents don’t always reflect the complete picture of what was communicated to investors, particularly when there are allegations of oral misrepresentations.

Can Investors Recover Losses from Misrepresentation?

Investors who relied on false statements or omissions about investment products may be entitled to recover losses through FINRA arbitration.

Patil Law, P.C. has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases. We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you.

About FINRA Arbitration

FINRA arbitration is a streamlined dispute resolution process for securities-related claims. It offers a faster, more cost-effective alternative to traditional court litigation. Most cases are resolved within 12-16 months. Claims generally must be filed within six years of the incident.

Related Brokers and Firms

For more information about complaints involving LPL Financial advisors and related securities issues, see:

• LPL Financial Advisors – Complaints & Disclosures
• Variable Annuity Fraud
• Broker Misconduct
• Unsuitable Investments
• FINRA Arbitration Process

Frequently Asked Questions

What is the complaint against Alvaro Mauricio Jiron?

Alvaro Mauricio Jiron is currently defending a pending FINRA arbitration case filed on August 11, 2025, alleging he misrepresented an offshore annuity product as “safe and secure.” The client is seeking damages between $100,000 and $500,000. The alleged misconduct occurred during Jiron’s tenure at Infinex Investments, Inc. In his defense, Jiron claims the client signed disclosures and that compliance approved the transaction, and that the client “withdrew more than initially invested.” He also has one denied complaint from 2023 involving alleged failure to disclose mutual fund liquidity restrictions.

Can investors recover losses involving LPL Financial?

Yes. Investors who suffered losses due to misrepresentation, unsuitable investments, or other broker misconduct at LPL Financial may be entitled to recover their losses through FINRA arbitration. Claims can be brought against both the individual broker and the firm. Even when alleged misconduct occurred at a previous firm like Infinex Investments, investors may still have recourse. Both the broker and the firms involved may be held liable for violations of securities laws and industry rules.

What is FINRA arbitration?

FINRA arbitration is a dispute resolution forum specifically designed for securities-related claims between investors and brokers or brokerage firms. It provides a faster and typically less expensive alternative to traditional court litigation. Cases are heard by a panel of arbitrators with securities industry knowledge, and decisions are binding on all parties. Most FINRA arbitration cases are resolved within 12-16 months from the date of filing. The process includes document exchange, discovery, and a hearing where both sides present evidence and testimony.

What are offshore annuities and why are they risky?

Offshore annuities are insurance products issued by companies domiciled outside the United States, often in jurisdictions like Bermuda or the Cayman Islands. They carry unique risks including: limited U.S. regulatory oversight, counterparty risk from relying on foreign insurers, complex tax treatment and reporting requirements, potential liquidity restrictions, lack of state insurance guarantee fund protection, currency exchange risks, and difficulty pursuing claims against foreign entities. Representing such products as “safe and secure” without adequately disclosing these risks may constitute misrepresentation.

How do I look up a broker on BrokerCheck?

You can research any broker’s background by visiting FINRA’s BrokerCheck website at brokercheck.finra.org. Simply enter the broker’s name or CRD number (for Alvaro Mauricio Jiron, it’s CRD# 4226147) to access their complete registration history, employment record, licenses, and disclosure events. BrokerCheck is free and provides information on both current and former registered brokers. It’s an essential tool for investors to research financial professionals before deciding to work with them or to investigate concerns about current advisors.

What should I do if I was told an investment was “safe” but lost money?

If you were told an investment was “safe,” “secure,” or “guaranteed” but subsequently lost money, take these steps: (1) Gather all documentation including account statements, prospectuses, marketing materials, and any written or email communications with your broker; (2) Document any oral representations made about the safety or security of the investment; (3) Review the offering documents to understand the actual risks disclosed; (4) Calculate your total losses including any fees or penalties incurred; (5) File a written complaint with the brokerage firm’s compliance department; (6) Consider filing a complaint with FINRA or your state securities regulator; (7) Consult with a securities attorney who specializes in FINRA arbitration to discuss your legal options. Time limits apply to securities claims, so prompt action is important to preserve your rights.

About Patil Law, P.C.

Patil Law, P.C. is a securities litigation firm dedicated to representing investors who have suffered losses due to broker misconduct, unsuitable recommendations, and securities fraud. Founded in 2018 by attorney Chetan Patil, the firm focuses exclusively on FINRA arbitration and investment loss recovery.

With over 15 years of combined experience in securities law, Patil Law has successfully recovered more than $25 million for clients across 1,000+ cases. Attorney Chetan Patil earned his law degree from Case Western Reserve University School of Law. Attorneys Gabriela Dubrocq and Patricia Herrera earned their law degrees from University of Miami. The firm handles cases nationwide involving unauthorized trading, churning, unsuitable investments, breach of fiduciary duty, and failure to supervise.

Patil Law works on a contingency fee basis, meaning clients pay no attorney fees unless the firm successfully recovers money on their behalf. All consultations are free and confidential.

Time is Critical: Six-Year Statute of Limitations

Securities arbitration claims are subject to strict time limits. Under FINRA rules, claims generally must be filed within six years of the date of the alleged misconduct. If you invested in an offshore annuity or other complex investment product through Alvaro Mauricio Jiron at Infinex Investments or LPL Financial, the clock may be running on potential claims.

If you were told an investment was “safe and secure” but suffered losses, don’t delay in seeking legal advice. Don’t let the statute of limitations expire on your claim.

Were You a Client of Alvaro Mauricio Jiron?

If you had an account with Alvaro Mauricio Jiron at LPL Financial, Infinex Investments, J.P. Morgan Securities, or any of his previous firms, you should:

1. Review all account statements for offshore annuities, interval funds, or other complex investments
2. Check for products with liquidity restrictions that weren’t adequately explained
3. Recall any representations about investments being “safe,” “secure,” or “guaranteed”
4. Identify any losses in products that were represented as conservative or low-risk
5. Gather all prospectuses and offering documents you received
6. Document any oral representations that differed from written disclosures
7. Contact a securities attorney to evaluate potential claims

Even if you signed disclosure documents, you may still have a valid claim if oral misrepresentations were made or if the risks weren’t adequately explained.

Contact Patil Law Today for a Free Consultation

If you lost money in an offshore annuity, interval fund, or other investment recommended by Alvaro Mauricio Jiron, or if you were told an investment was “safe and secure” but suffered losses, contact Patil Law, P.C. today for a free, confidential consultation. Our experienced securities attorneys can review your situation and explain your legal options.

Call: 800-950-6553
Email: info@patillaw.com
Website: investmentlosslawyer.com

There is no cost and no obligation. We’re here to help you understand your rights and pursue the compensation you deserve.

Disclaimer: The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending or unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.