LPL Advisor Brian Bates Faces ETF Complaint

Phoenix financial advisor Brian Bates (CRD# 2318413) is involved in an investor complaint alleging he failed to follow a customer’s instructions. Records maintained by the Financial Industry Regulatory Authority indicate that he is a broker and an investment advisor with LPL Financial, having previously been registered with PNC Investments.

Mr. Bates’ BrokerCheck report discloses multiple investor complaints. The most recent, filed in February 2023, alleges that he failed to follow instructions and placed the customer in investments he did not request, including a GS Finance Corp. ETF and a GS Finance Corp Index-Linked Note. The pending complaint alleges unspecified damages exceeding $5,000.

An earlier investor complaint, filed in 2011, alleged that as a representative of Chase Investment Services (now known as JP Morgan Securities), he misrepresented material facts regarding a managed account investment. In 2014 the complaint reached a settlement of $2,960.09.

According to the Financial Industry Regulatory Authority, Brian Bates holds 29 years of securities industry experience. Based in Phoenix, Arizona, he has been a broker and an investment advisor with LPL Financial since 2021. His past registrations include PNC Investments (Phoenix, Arizona; 2021), PNC Managed Account Solutions (Chandler, Arizona; 2014-2021), JP Morgan Securities (Gilbert, Arizona; 2012-2013), Chase Investment Services (Gilbert, Arizona; 2011-2012), Foothill Securities (Cave Creek, Arizona; 2009-2011), Cue Financial Group (Phoenix, Arizona; 2004-2011), Securities America Advisors (Phoenix, Arizona; 1999-2004), SunAmerica Securities (Phoenix, Arizona; 1996-1998), and Waddell & Reed (Overland Park, Kansas; 1993-1996). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, California, Idaho, Indiana, Maryland, Nevada, North Carolina, Oregon, Pennsylvania, Texas, and Wisconsin. (Information current as of March 18, 2023.)

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