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WARNING! Impending Investigation–JODIE L. MILLER, VALIC FINANCIAL ADVISORS, and LPL FINANCIAL

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17
Nov

WARNING! Impending Investigation–JODIE L. MILLER, VALIC FINANCIAL ADVISORS, and LPL FINANCIAL

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Jodie L. Miller, VALIC Financial Advisors, and LPL Financial

Have you lost money with financial advisor Jodie L. Miller from Tampa, Florida?  We are currently investigating allegations made by FINRA (the Financial Industry Regulatory Authority) made against Jodie Miller.  FINRA alleges that Miller sold $764,000 worth of notes or “Letters of Protection” issued by a company called Tri-Med Corporation.  It is alleged that Miller earned over $38,000 in commissions for these sales.  According to the complaint, “Tri-Med purchased from medical providers, at discounted rates, outstanding receivables relating to personal injury claims, with the expectation that insurers would pay the entire receivable once the claim was resolved through litigation or settlement”.

FINRA alleges that Jodie Miller did not have approval to sell these Tri-Med investments from her brokerage firms, first VALIC Financial Advisors, and then LPL Financial.  FINRA also alleges that she did no adequate due diligence into these investments, and that she had no reasonable basis to make recommendations to clients to invest in them, in violation of FINRA Rule 2111 (regarding suitability).  Unfortunately, the Florida Office of Financial Regulation brought a regulatory complaint against Tri-Med Corporation, believing that Tri-Med is simply a Ponzi Scheme.  FINRA suspended Jodie Miller 18 months for this conduct, it ordered her to disgorge the commissions she made on these sales, and she was also ordered to pay a $15,000 fine.

Jodie Miller was a registered representative of VALIC Financial Advisors from May 2009 to September 2012, and with LPL Financial from September 2012 to January 2013.  Miller was also affiliated with Bay Area Wealth Management in Tampa.

Broker-dealers like VALIC Financial Advisors and LPL Financial have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives.  Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Our firm has previously represented investors all over the country, including investors in Florida and throughout the Southeastern United States.  Our firm has offices in Denver and the Seattle-area, but we continue to represent investors throughout the U.S., and we also have attorneys that are licensed to practice law in the State of Florida.   If you have lost money with Jodie L. Miller, VALIC Financial Advisors, LPL Financial, or Tri-Med Corporation, and want to hear about ALL legal options, please visit  us at https://www.israelsneuman.com/ and go to our CONTACT page or call us at 720-599-3505.

Click here to view Jodie Miller FINRA AWC:  Miller FINRA AWC

 

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.
10.0David P Neuman

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