National investment loss lawyers KlaymanToskes is investigating broker Frank Martin (CRD# 2859847) of Arive Capital Markets and LPL Financial, who has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following allegations that he failed to reasonably supervise six Arive Capital Markets registered representatives, who each excessively traded one or more customers’ accounts.
FINRA’s investigation found that, despite indicators of excessive trading at Arive Capital Markets, including high turnover and cost-to-equity ratios in numerous customer accounts, Martin failed to investigate red flags of unsuitable or excessive trading, causing customers to pay $663,463 in collective commissions, fees, and margin interest.
From August 2016 to July 2019, Martin was the designated branch manager for Arive’s home office in Brooklyn, New York, and also periodically served as the branch manager for the firm’s Coram, New York branch office. Martin also allegedly served as the supervisor of a registered representative who was a producing manager based in Long Island, New York.
FINRA found that Martin “frequently closed out exception reports without evidence of any reasonable review to verify that the trades were suitable.” For example, Martin allegedly failed to reasonably investigate 21 alerts flagging in-and-out trading within a 30-day period for eight customers all dated January 31, 2018.
According to FINRA BrokerCheck, broker Frank Martin was previously registered with Arive Capital Markets from 2015 to 2019, and is currently registered as a broker with LPL Financial in Brooklyn, NY.
Investors that suffered losses with broker Frank Martin are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national investment loss law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The articles linked below contain important information relating to KlaymanToskes’ investigation of broker Frank Martin:
If you suffered losses with broker Frank Martin, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million* for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
*Exclusive of attorneys fees and costs.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Frank Martin. These signs could potentially indicate broker misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
According to FINRA, brokerage firms such as Arive Capital Markets and LPL Financial are responsible for the supervision of all of the activities of their registered brokers and investment advisors. Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their broker/advisor made unsuitable investment recommendations.
Engaging the services of an experienced securities attorney to evaluate the specific circumstances of your case is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Frank Martin, or have concerns regarding your investment portfolio at Arive Capital Markets and/or LPL Financial, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation to discuss recovery options.