Nick Photiadis: $288K REIT Complaint Against LPL Advisor

Paramus, New Jersey financial advisor Nick Photiadis (CRD# 2978120) recently received an investor complaint alleging that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with LPL Financial.

Mr. Photiadis’ BrokerCheck report discloses five investor complaints. The most recent, filed in January 2026, alleges that as a representative of LPL Financial, he recommended an unsuitable real estate investment trust (REIT). The pending complaint alleges damages of $288,000.

An earlier investor complaint, filed in 2022, alleged that as an LPL Financial representative, he recommended unsuitable alternative investments that resulted in the claimant receiving a “beneficial share of funds from a friend’s account [that] were less than they should have been.” The complaint reached a settlement of $9,999.

In a statement included with the 2022 complaint’s disclosure, Mr. Photiadis defended himself against the allegations. “I was not named as a Respondent in this arbitration, and I committed no wrongdoing,” he wrote. “Here, the Claimant did not purchase the contested investments through LPL or me; he only inherited them in an account outside of LPL. I serviced the late customer from whom the Claimant inherited the investments for over 25 years. I continue to provide financial services to her siblings and their children, who consistently express their satisfaction with my performance. As is my standard practice, my due diligence into the recommended products was substantial, as it is for every customer I service.”

A third investor complaint, filed in 2011, alleged that as a Merrill Lynch representative, he made unsuitable recommendations and unauthorized trades. The complaint reached a settlement of $125,000.

A fourth investor complaint, filed in 2010, alleged that as a Merrill Lynch representative, he misrepresented and recommended unsuitable auction rate securities. In 2011 the complaint reached a settlement of $341,087.50.

According to the Financial Industry Regulatory Authority, Nick Photiadis holds 28 years of securities industry experience. Based in Paramus, New Jersey, he has been registered as a broker and an investment advisor with LPL Financial since 2011. He was previously registered with Merrill Lynch in Fort Lee, New Jersey from 1998 until 2011. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; the Foreign Currency Options Examination, or Series 15; the National Commodity Futures Examination, or Series 3; the General Securities Representative Examination, or Series 7; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California, Colorado, Connecticut, Delaware, the District of Columbia, Florida, Illinois, Massachusetts, Missouri, New jersey, New York, Pennsylvania, Tennessee, and Washington. (Information current as of March 7, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.