Corpus Christi financial advisor Jaime Rios (CRD# 1747126) was recently sanctioned by securities regulators in connection with alleged rule violations....Read More
Matt Engelau: LPL Financial Advisor Denies ETF Complaint
Hackettstown, New Jersey financial advisor Matt Engelau (CRD# 5233851) recently received an investor complaint alleging his conduct resulted in losses. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with LPL Financial.
Mr. Engelau’s BrokerCheck report discloses one investor complaint. Filed in June 2023, it alleges that as a representative of LPL Financial, he “employed a trading strategy which resulted in losses” in the customer’s accounts. The pending complaint, which was filed in connection with mutual fund, stock, and exchange-traded fund investments, alleges unspecified damages determined to be more than $5,000.
In a statement included with the pending complaint’s disclosure, Mr. Engelau denied the allegations, which he described as meritless. “All trading strategies recommended to the claimants were suitable and within claimants’ investment objectives,” he wrote. “Any losses in claimants’ accounts were a result of unforeseeable market fluctuation. Claimants were fully aware of risks involved with their investments.”
More information about FINRA’s suitability standard, which holds that brokers may only recommend only investments that are appropriate for their customers’ profiles, is available here.
According to the Financial Industry Regulatory Authority, Matt Engelau holds 16 years of securities industry experience. Based in Hackettstown, New Jersey, he has been a broker and an investment advisor with LPL Financial since 2007. 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 Florida, Georgia, Indiana, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, Texas, and Virginia. (Information current as of July 9, 2023.)
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.