National investment loss lawyers KlaymanToskes is investigating broker David Lee Jerke (CRD# 5129935) of LPL Financial.
According to the Financial Industry Regulatory Authority (FINRA), on March 3, 2025, Jerke was permanently barred from the securities industry due to findings that he refused to provide documents and information as requested by FINRA in connection to its investigation of allegations made by his member firm on a Form U5 filling. The findings stated that Jerke was terminated from his firm because he had solicited a loan from a customer without notice to and approval from his firm.
Investors that suffered losses with broker David Lee Jerke are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
FINRA’s investigation found that on December 23, 2024, LPL filed a Form U5 disclosing that Jerke’s association with the firm had been terminated because Jerke had “[s]olicited [a] loan from [a] customer without notice to and approval from [the] Firm, in violation of Firm policy.” On January 21, 2025, in connection with FINRA’s investigation into the allegations in the Form U5 filed by LPL, FINRA sent a request to Jerke for documents and information pursuant to FINRA Rule 8210. Jerke reportedly refused to provide documents and information as requested by FINRA pursuant to FINRA Rule 8210, and is barred from associating with any FINRA member in all capacities.
Jerke was involved in a customer complaint which was settled in favor of the customer for $200,000. The investor alleged that they were approached by Jerke for an “investment opportunity” that could be lucrative, however he was in need of $200k. POA agreed to lend the funds to FA Jerke and he processed a transfer from the client’s LPL account to his personal bank account. Funds were lost to a scammer/fraudster. LPL settled with client/POA to make the client whole. Broker David Lee Jerke was registered with LPL Financial from January 2021 to December 2024 in Tacoma, WA.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged 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.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances 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 David Lee Jerke, or have concerns regarding your investment portfolio at LPL Financial, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.