National investment loss lawyers KlaymanToskes is investigating broker Derek Copeland (CRD# 4347572) of LPL Financial and Independent Advisor Alliance.
According to a settlement finalized by the Financial Industry Regulatory Authority (FINRA) on March 25, 2025, Copeland was permanently barred from the securities industry after soliciting $11 million from 27 investors—22 of whom were his customers—for unapproved investments in a flooring company, a furniture retailer, a mobile home park, and a real estate development project. FINRA found that Copeland failed to obtain approval from LPL Financial prior to engaging in these private securities transactions, violating FINRA rules.
Copeland also communicated with investors using unapproved personal email and cell phone accounts, sending over 2,250 securities-related messages, in violation of FINRA’s books-and-recordkeeping rules and its standards of commercial honor and just and equitable principles of trade.
Investors that suffered losses with broker Derek Copeland 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 Copeland received $173,000 in compensation from the businesses he promoted for consulting work and investor referrals. Despite earning commissions, he did not disclose or obtain approval from his employer, LPL Financial, for these activities. In addition to the FINRA bar, Copeland has a history of customer complaints, including a $1.5 million complaint filed in February 2023 for unsuitable recommendations. The case was settled for $175,000, according to FINRA’s BrokerCheck records.
Derek Copeland, who previously led a practice known as SilverRock, has held roles at UBS, Morgan Stanley, Spire Securities, and LPL Financial throughout his 20+ year career. His most recent affiliations were with LPL and IAA, from which he was terminated in January 2023 for undisclosed outside business activities.
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 Derek Copeland, 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.