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SCOTT KLOR of LPL Financial Suspended and Fined

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08
Apr

SCOTT KLOR of LPL Financial Suspended and Fined

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SCOTT KLOR of LPL Financial Suspended and Fined

Have you lost money with financial advisor Scott Klor of LPL Financial in life settlements (viaticals)? 

 

We are looking into allegations made by FINRA (the Financial Industry Regulatory Authority) against Scott Klor.  FINRA alleged that Klor solicited investors to invest in a life settlement or viatical while registered at his brokerage firm, LPL Financial.   Klor recommended setting up an LLC, which was then used to purchase a life insurance policy on a terminally ill person.  While the person eventually passed away in 2017, the death benefit was less worth than the amount invested, leaving five investors with over $200,000 in losses.

 

It was further alleged that Klor failed to disclose these sales to his brokerage firm, LPL Financial. Scott P. Klor agreed to settle the claims with FINRA.  He agreed to pay a $5,000 fine and to a fourteen-month suspension from the securities industry.

 

Scott Patrick Klor was a registered representative and advisor with LPL Financial from March 2011 to May 2017.  He was assigned to a branch office in Baton Rouge, Louisiana.  Klor was also terminated for this conduct.  Klor also worked at Business First Bank.

 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Seattle, Washington, and Denver, Colorado.  We represent investors in all 50 states, including investors throughout Louisiana. Our attorneys have recovered millions of dollars for investors against many brokerage firms in the past, including LPL Financial.

 

Click to view:  Scott Klor BrokerCheck

Click to view:  Scott Klor FINRA AWC

 

If you lost money with Scott Klor or LPL Financial, please CONTACT US at 206-795-5798 for a free evaluation of your case.

 

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs. 

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