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Mark Gillelen Allegedly Gave Unsuitable Investment Recommendations

Mark Gillelen (CRD #: 1868626), a broker registered with LPL Financial, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on May 31, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Pending Dispute

On March 17, 2023, several investors filed a dispute alleging that Mark Gillelen recommended unsuitable investments between January 2018 and June 2021. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles, which describe investor characteristics, such as their age, risk tolerance, and investment goals.

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their funds by seeking out FINRA arbitration.

Background Information

Mark Gillelen has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Mark Gillelen is a registered broker in nine states and a registered investment adviser in California and Texas.

He has also worked for the following firms:

  • Cetera Investment Advisers (CRD#:105644)
  • First Allied Securities (CRD#:32444)
  • First Allied Advisory Services (CRD#:137888)
  • Morgan Stanley Smith Barney (CRD#:149777)
  • Morgan Stanley & Company (CRD#:8209)
  • Banc of America Investment Services (CRD#:16361)
  • BA Investment Services (CRD#:12965)
  • Citicorp Investment Services (CRD#:23988)
  • Dean Witter Reynolds (CRD#:7556)

Kurta Law Can Help

If you worked with Mark Gillelen and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want 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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