Eric Ruthman: Ex-LPL Advisor Faces Structured Product Complaint

Atlanta financial advisor Eric Ruthman (CRD# 6281076) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that the former LPL Financial representative is currently registered as a broker with Purshe Kaplan Sterling and an investment advisor with Phase Line Capital.

Mr. Ruthman’s BrokerCheck report discloses one investor complaint. Filed in December 2023, it alleges that as a representative of LPL Financial, he recommended unsuitable structured products between December 2020 and November 2021. The pending investor complaint alleges unspecified damages of at least $5,000.

In a statement included with the complaint’s disclosure, Mr. Ruthman pushes back against the allegations, noting that the claim is between the claimant and LPL Financial. “We adamantly deny any wrongdoing based on the allegation,” he writes. “The claim of unsuitable investments in Structure Products is completely unfounded and without merit. Our firm and Broker Dealer have always taken a high standard approach to product suitability with all our clients. Structured products are complex in nature, that is why we take the time to fully explain the strategy and the risks associated with these products.”

According to the Financial Industry Regulatory Authority, Eric Ruthman holds 10 years of securities industry experience. Based in Atlanta, Georgia, he has been a broker with Purshe Kaplan Sterling and an investment advisor with Phase Line Capital since 2021. His past registrations include LPL Financial (Atlanta, Georgia; 2017-2021) and Edward Jones (Woodstock, Georgia; 2014-2017). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Operations Professional Examination, or Series 99TO; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Alabama, Colorado, the District of Columbia, Florida, Georgia, North Carolina, Pennsylvania, Texas, Virginia, and Washington. (Information current as of January 30, 2024.)

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