Did you lose money with Richard Ceffalio, Jr.?
The White Law Group is investigating potential securities claims involving ex-LPL Financial advisor Richard Ceffalio Jr.
According to his broker report, Richard Ceffalio Jr, (CRD#: 2619565) formerly of LPL Financial, reportedly has five customer complaints pending against him since 2023.
Allegations of Broker Misconduct
Richard Ceffalio reportedly faces multiple customer lawsuits and was allegedly discharged from LPL Financial LLC following allegations of misconduct.
- Customer Complaints (2012–2023): Clients alleged that Ceffalio mismanaged their accounts with unsuitable investment recommendations and misrepresented account values.
- May 28, 2024: A customer alleged that in March 2022, Ceffalio forged their signatures on a line of credit agreement and misappropriated $3,530,379.93.
- July 21, 2023: Clients reportedly complained of misleading information about annuities, which led to overspending. On May 21, 2024, their attorney claimed Ceffalio was “caught forging documents.”
- Employment Separation (May 31, 2024): LPL Financial discharged Ceffalio for allegedly soliciting a loan from a customer without firm approval and purportedly submitting trade corrections with inaccurate justifications.
Richard Ceffalio Jr. – FINRA Broker Check
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
According to his broker report, Richard Ceffalio Jr. was reportedly registered with the following firms during his career in the securities industry. He is not currently registered as a broker.
11/15/2019 – 07/01/2024 LPL FINANCIAL LLC (CRD#:6413) ARLINGTON HEIGHTS, IL
11/02/2012 – 12/06/2019 WELLS FARGO CLEARING SERVICES, LLC (CRD#:19616)ARLINGTON HEIGHTS, IL
10/03/2008 – 11/12/2012 UBS FINANCIAL SERVICES INC. (CRD#:8174) NORTHBROOK, IL
Broker Due Diligence
Under the “Regulation best interest” standard, broker-dealers are obligated to perform due diligence when evaluating any investment. If your financial advisor fails to evaluate an investment before recommending it to you, they could be held liable for investment losses.
If your advisor unsuitably recommended any investment and you lost money, the securities attorneys at The White Law Group may be able to help you. You may be able to recover losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
Class Action vs. Individual FINRA Arbitration Lawsuit
You may wonder whether a large class action lawsuit is a better litigation option than an individual FINRA arbitration case. The answer depends on many factors, but typically if the loss sustained is large (say larger than $100,000), an individual arbitration claim is likely a better option. Class actions as a recovery option are more appropriate for grouping large numbers of individuals who have small claims – too small to generally pursue individually.
Free Consultation and Contingency Fees
If you have suffered investment losses with Richard Ceffalio Jr. and LPL Financial the securities attorneys at the White Law Group may be able to help you by filing a FINRA lawsuit. Please call our offices at (888) 637-5510 for a free consultation. We take cases in all 50 states including Illinois.
National Securities Attorneys
The White Law Group, LLC is a national law firm in securities fraud, securities arbitration, investor protection, and securities regulation and compliance. With offices in Chicago, Illinois and Seattle, Washington, the firm is dedicated to assisting investors across all 50 states with claims against their brokerage firms. Since its founding in 2010, The White Law Group has handled over 800 FINRA arbitration cases.
Last modified: March 7, 2025
