Dain Stokes, formerly with LPL Financial, Barred by SEC
Have you lost money with financial advisor Dain Stokes of Bedford, New Hampshire? We are continuing to look into allegations made against Dain F. Stokes, who was barred from the securities industry by the Securities and Exchange Commission (SEC). The SEC alleged that this conduct took place in 2018 and 2019, while Stokes was affiliated with LPL Financial.
Stokes was previously the subject of a complaint made by the New Hampshire Securities Bureau. New Hampshire alleged that Stokes raised funds for a purported charity in Africa involving Taylor Swift, but that Stokes just pocketed the funds.
Dain Stokes was a financial advisor and registered representative of LPL Financial from 2009 to August 2019. He worked at branch offices in Bedford, New Hampshire. Stokes has also been the subject of five customer complaints.
Brokerage firms like LPL Financial have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Ann Arbor, Michigan; Denver, Colorado; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New Hampshire in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial.