Nashville, TN – December 16, 2024 – Steven Jay Kibbel (CRD# 6800914), a former registered representative with LPL Financial, was discharged in November 2025 following allegations of engaging in outside business activity without prior notice and approval, and using unapproved messaging platforms to transmit business-related communications. This disclosure event raises concerns about compliance violations that investors should carefully review. This post provides public information from FINRA BrokerCheck records and explains investor recovery options.
BrokerCheck Snapshot
Name: Steven Jay Kibbel
CRD #: 6800914
Firm: LPL Financial LLC (at time of discharge)
Location: Nashville, TN
Years in Industry: 8
Number of Disclosures: 1
Employment Termination Involving Steven Kibbel
According to FINRA BrokerCheck records, Steven Kibbel was discharged from LPL Financial LLC on November 7, 2025. The firm reported that Kibbel allegedly engaged in outside business activity without prior notice and approval, and allegedly used unapproved messaging platforms to transmit business-related communications.
Termination Type: Discharged
Date: November 7, 2025
Allegations: Engaged in outside business activity without prior notice and approval; and used unapproved messaging platform to transmit business-related communications
Product Type: No Product
Status: Pending (not adjudicated)
While the specific details of the outside business activities and communications have not been publicly disclosed, these types of allegations often involve concerns about failure to supervise and potential conflicts of interest that may have impacted client accounts.
Pattern of Compliance Violations / Risk Factors
While each case is unique, allegations involving unapproved outside business activities and unauthorized communication platforms may indicate concerns related to regulatory compliance failures, inadequate oversight, or potential conflicts of interest. Investors who worked with brokers facing similar allegations should carefully review their account statements and seek legal guidance if they experienced unexplained losses or unsuitable investment recommendations during the relevant time period.
Can Investors Recover Losses?
Investors who experienced losses due to broker misconduct or regulatory violations may be entitled to recover damages through FINRA arbitration. When brokers engage in activities outside of firm supervision or use unauthorized communication channels, it can create situations where investor interests are compromised.
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, making it important to act promptly if you believe you have been harmed by broker misconduct.
Related Brokers and Firms
If you worked with Steven Kibbel at LPL Financial or have concerns about similar compliance violations, you may want to review information about other advisors at the firm. Our firm has extensive experience handling cases involving unsuitable investments, unauthorized trading, and other forms of securities misconduct.
For more information about recovering investment losses related to LPL Financial advisors or other brokerage firms, contact Patil Law, P.C. for a free consultation.
Frequently Asked Questions
What is the allegation against Steven Kibbel?
Steven Kibbel was discharged from LPL Financial LLC in November 2025. The firm alleged that he engaged in outside business activity without prior notice and approval, and used unapproved messaging platforms to transmit business-related communications. These allegations have not been adjudicated and remain pending.
Can investors recover losses involving LPL Financial?
Yes. Investors who suffered losses due to broker misconduct, unsuitable investment recommendations, or regulatory violations at LPL Financial or any other firm may be entitled to recover damages through FINRA arbitration. Securities laws require brokers to act in their clients’ best interests and follow all applicable regulations.
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 binding decision from a panel of arbitrators and is generally faster and less expensive than court litigation. Most investor agreements with brokerage firms include mandatory arbitration clauses.
What does “outside business activity” mean?
Outside business activity refers to any business or employment activity outside of the broker’s relationship with their registered firm. FINRA rules require brokers to provide written notice to their firm before engaging in any outside business activity. This requirement exists to allow firms to supervise their brokers properly and identify potential conflicts of interest that could harm investors.
How do I look up a broker on BrokerCheck?
Visit FINRA’s BrokerCheck website at brokercheck.finra.org and search by the broker’s name or CRD number. BrokerCheck provides detailed information about a broker’s employment history, qualifications, and any disclosure events, including customer complaints, regulatory actions, and terminations.
What should I do if I suspect broker misconduct?
First, gather and preserve all account statements, correspondence, and documentation related to your investments. File a complaint with your brokerage firm and consider filing a complaint with FINRA or your state securities regulator. Contact an experienced securities attorney to discuss your options for recovering losses through FINRA arbitration or other legal remedies.
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.
Contact Patil Law, P.C. for a Free Consultation
If you suffered investment losses while working with Steven Kibbel or any other broker at LPL Financial, you may be entitled to recover your damages through FINRA arbitration. Our experienced securities attorneys can review your case at no cost and with no obligation.
Call today: 800-950-6553
Email: info@patillaw.com
Website: investmentlosslawyer.com
Don’t wait—securities claims have time limitations. Contact us today to protect your rights.
*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.*
