Shepherd, Smith, Edwards & Kantas (“SSEK”), a law firm specializing in representing wronged investors, is looking at allegations by FINRA into former Linsco Private Ledger (LPL) financial advisor, Jeffery Vasiloff (“Vasiloff”). Vasiloff worked at LPL in 2018 and was not employed very long. Vasiloff was fired, according to FINRA, due to allegations of utilizing discretion without obtaining the proper written authority. As a result, he was also suspended from acting as a financial advisor by FINRA. He previously worked at Invest Financial Corporation and appears to be based out of Vermilion, Ohio. After serving his suspension, Vasiloff became employed by JW Cole Financial.
Vasiloff never admitted nor denied FINRA’s finding. However, he consented to the sanctions imposed and accepted the findings that he acted improperly by refusing to obtain prior consent, in writing, from the client before acting on that client’s behalf. LPL simply reported to FINRA that Vasiloff was discharged for “use of discretion without prior written authorization.”
SSEK has experience in representing customers of financial advisors who exercised control over client accounts or failed to follow internal policies of the brokerage firm which were put in place to protect the client. SSEK’s experience shows that before a financial advisor begins ignoring internal policies or disregards long standing industry norms, he or she often does other things that are wrong for clients, such as unsuitable investing, churning, unauthorized transactions or other misconduct. Even after rule violations are uncovered, those other bad acts often go unnoticed and are never addressed without a customer hiring a law firm like SSEK.
Securities Fraud Attorneys
If you were a victim of securities fraud or negligence, it is not your fault. The experienced attorneys at SSEK are experts at FINRA arbitrations and dealing with financial advisors who have fallen under FINRA and/or SEC scrutiny. For the last 30 years, SSEK has filed thousands of FINRA claims on behalf of consumers wronged by unscrupulous brokers and brokerage firms. If you were a client of Vasiloff or suspect any sort of wrongdoing from your investment advisor, contact our office for a free, no obligation consultation of your situation.