National investor fraud law firm, KlaymanToskes (“KT”), has commenced an investigation (“Eric Hollifield Hamilton Investment Counsel Investigation”) into former Hamilton Investment Counsel, LLC investment advisor, Eric Shea Hollifield (“Eric Hollifield”) in light of a disciplinary bar disclosed by FINRA. In October 2021, FINRA barred Eric Hollifield from the securities industry. The bar follows a customer dispute alleging Eric Hollifield misappropriated $1,240,000 of client funds.
Eric Hollifield Hamilton Investment Counsel and the October 2021 FINRA Disciplinary Action
According to BrokerCheck, FINRA barred Eric Hollifield for refusing to appear for on-the-record testimony or to produce the documents and information requested pursuant in connection with FINRA’s investigation into whether Eric Hollifield converted funds of an elderly customer.
On September 21, 2021, in connection with its investigation into Eric Hollifield’s potential conversion of funds from an elderly customer, FINRA staff sent a request to Eric Hollifield for his on-the-record testimony scheduled for September 30, 2021. On September 21, 2021, FINRA staff sent a request to Eric Hollifield for documents and information. Eric Hollifield acknowledged to FINRA that he received FINRA’s requests dated September 21, 2021, and acknowledged that he will not appear for on-the-record testimony or produce the documents and information requested at any time.
Employment Background, Termination of Eric Hollifield
Eric Hollifield was formerly registered with LPL Financial (Dacula, Georgia) from October 2016 to September 2021. According to Eric Hollifield’s BrokerCheck, Eric Hollifield was discharged from LPL Financial on August 12, 2021. Eric Hollifield’s employment separation from LPL Financial relates to allegations that he failed to disclose outside business activity to the firm.
Eric Hollifield’s BrokerCheck also contains a disclosure showing an employment separation from Hamilton Investment Counsel, LLC on September 1, 2021. The allegations relate to Eric Hollifield’s failure to disclose outside business activity to the firm.
Eric Hollifield was previously registered with the following firms:
- LPL Financial – Dacula, Georgia (October 2016 to September 2021)
- Sterne Agee Financial Services, Inc. – Dacula, Georgia (September 2008 to November 2016)
- H&R Block Financial Advisors, Inc. – Duluth, Georgia (October 2003 to September 2008)
- Merrill Lynch, Pierce, Fenner & Smith – New York (September 1998 to October 2003)
Eric Hollifield Accused of Misappropriating $1,240,000 in Client Funds
On August 25, 2021, LPL Financial received a written complaint from a customer alleging that Eric Hollifield misappropriated funds from her account. The allegations span from August 2020 to present, as of the time of this writing. The damages alleged are $1,240,000.
Lose Money Investing with Eric Hollifield of Hamilton Investment Counsel?
Former customers of ex-LPL Financial and Hamilton Investment Counsel investment adviser and ex-LPL Financial broker Eric Hollifield (Dacula, Georgia) with investment losses that exceed $100,000, and those who may have information relating to the manner in which the broker handled their accounts, are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131, and download our Special Investor Report.
KT is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KT has recovered more than $220 million for investors in FINRA arbitrations. KT has office locations in California, Florida, New York, and Puerto Rico.
Lawrence L. Klayman, Esq. (561) 542-5131