Allegations Against Advisor Matthew B. Summe

According to FINRA’s BrokerCheck, LPL Financial fired Matthew Summe regarding allegations that he “Failed to disclose and obtain prior approval for a personal financial arrangement with client; and used unapproved electronic communications platform.”  Generally, advisors must disclose all outside businesses that they operate, and they must have permission from their brokerage firm for every investment product that they sell.  Moreover, if an advisor borrows money from a client, they must get prior approval for such.

Summe was also terminated by his investment advisory firm, Stratos Wealth Partners.

Background on Matthew Summe

Matthew B. Summe was licensed with LPL Financial from April 2025 to May 2026 and worked at an Elmhurst, Illinois office.  He was also previously licensed with UBS Financial from June 2021 to December 2024. 

Can LPL Financial Be Responsible to Customers for Summe’s Conduct?

FINRA Rule 3110 requires securities brokerage firms like LPL Financial to adequately supervise the activity of its advisors.  The firm could be responsible for investor losses if it failed to reasonably supervise their advisor.

Israels & Neuman Helps Investors Recover Money in Illinois

We represent investors throughout the United States as well as Illinois, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  Attorney David Neuman is licensed to practice law in Illinois and grew up in nearby Addison, Illinois.  We regularly represent investors who lost money in Illinois.  If you were a client of Matthew Summe and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Summe’s BrokerCheck Report

Contact Israels & Neuman for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights. We have extensive experience representing Illinois investors and are ready to help you recover the money you deserve.