Chris Mavrakos: $250K Complaint Against LPL, MFP Advisor

A recent investor complaint against Safety Harbor, Florida financial advisor Chris Mavarkos (CRD# 1793086) alleges that his conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with LPL Financial and an investment advisor with MFP Financial Services.

Mr. Mavrakos’s BrokerCheck report discloses one investor complaint. Filed in February 2026, it alleges that as a representative of LPL Financial, he did not make the customer aware of short positions between 2022 and 2026. The pending complaint alleges damages of $250,000.

In a statement included with the complaint’s disclosure, Mr. Mavrakos defends himself against the allegations. “The representative denies any wrongdoing and asserts that the allegations are without merit,” he writes. “The representative continuously kept the clients informed as to the positions these customers complain of. At all times, the representative put the customers’ interest first.”

For reference, securities industry rules and regulations forbid brokers like Mr. Annable from misrepresenting or omitting material facts regarding investments and strategies they recommend to their clients. FINRA Rule 2020 specifically stipulates that no broker shall “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” A material fact is a piece of information that would pose a significant consideration to investors considering a product or strategy: whether their principal investment would be protected, for instance, or whether the investment is risky. Brokers who misrepresent investments may be liable in the event of losses.

According to the Financial Industry Regulatory Authority, Chris Mavrakos holds 37 years of securities industry experience. Based in Safety Harbor, Florida, he has been registered as a broker with LPL Financial since 2012 and an investment advisor with MFP Financial Services since 2024. His past registrations include Independent Advisor Alliance, Independent Financial Partners, NEXT Financial Group, Investment Advisors, ProEquities, Keogler Morgan & Company, InterSecurities, Marketing One Securities, American Capital Corporation, American Express Financial Advisors, IDS Life Insurance Company, First Investors Corporation, and Sherwood Capital. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; and the General Securities Principal Examination, or Series 24. He holds 45 state licenses. (Information current as of April 5, 2026.)

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