Kiran Devarapalli: Leaders Group Advisor Fired by LPL

Littleton, Colorado financial advisor Kiran Devarapalli (CRD# 6416586) was recently fired by LPL Financial in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he is currently registered as a broker with The Leaders Group and an investment advisor with Ciro Capital.

Mr. Devarapalli’s BrokerCheck report discloses his termination from LPL Financial. Filed in February 2024, it states that he “Participated in [an] outside business activity without notice to and approval from Firm.” The disclosure provides no additional context regarding the activity.

LPL Financial, his former member firm, has received more than 87 investor complaints that resolved with arbitration awards to the claimants, according to its BrokerCheck report. In 2020,  for instance, an investor filed a dispute alleging churning, fraud, misrepresentation and omission, unauthorized trading, and manipulation. The complaint evolved into an arbitration proceeding before a FINRA panel that issued an award to the claimant/s of $2.57 million.

An earlier complaint, filed in 2017, alleged that LPL Financial breached its fiduciary duty, misrepresented and omitted material facts regarding REIT and variable annuity investments, and acted negligently. The panel evolved into an arbitration proceeding before a FINRA panel, which issued an award to the claimant/s of $1.2 million.

According to the Financial Industry Regulatory Authority, Kiran Devarapalli holds eight years of securities industry experience. Based in Littleton, Colorado, he has been a broker with The Leaders Group and an investment advisor with Ciro Capital since 2024. His past registrations include LPL Financial (East Brunswick, New Jersey; 2021-2024), People’s Securities (New York, New York; 2019-2021), Morgan Stanley (New York, New York; 2016-2019), and Credit Suisse Securities (New York, New York; 2015-2016). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California, Connecticut, Florida, New Jersey, New York, Pennsylvania, and Texas. (Information current as of February 20, 2024.)

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