Michael Rudio: Suitability Complaint Against Ex-LPL Advisor

Atlanta, Georgia financial advisor Michael Rudio (CRD# 6322313) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker with Purshe Kaplan Sterling and an investment advisor with Phase Line Capital.

Mr. Rudio’s BrokerCheck report discloses two investor complaints. The most recent, filed in April 2025, alleges that as a representative of LPL Financial, he recommended unsuitable investments in structured products and breached his fiduciary duty. The pending complaint alleges damages of an unspecified amount.

An earlier investor complaint, filed in 2023, alleged that as a representative of LPL Financial, he recommended unsuitable structured product investments. In January 2025 the complaint reached a settlement of $18,500.

In a statement included with the settled complaint’s disclosure, Mr. Rudio “adamantly” denied wrongdoing. “This arbitration is ongoing between the complainant and LPL Financial,” he wrote, adding that the products were suitable for and fully explained to the clients. “We had several meetings discussing the client’s allocation strategy, of which we did an educational overview on structured products prior purchase,” he explained further. “In conclusion, we studiously maintain product training and follow our broker dealer’s suitability, due diligence, and compliance guidelines before making any recommendations.”

Phase Line Capital’s website describes the firm’s philosophy and approach to working with its clients. “Without question, we believe in doing what is for the benefit of the client beyond all else,” it explains. “After learning of your objectives, risk tolerance, liquidity needs and time horizons, we build a personalized and comprehensive financial plan. Every step of the way we are partnered with you, and we are committed to service beyond expectation.”

According to the Financial Industry Regulatory Authority, Michael Rudio holds 10 years of securities industry experience. Based in Atlanta, Georgia, he has been registered as a broker with Purshe Kaplan Sterling and an investment advisor with Phase Line Capital since 2021. His past registrations include LPL Financial and Edward Jones. His credentials include the passage of three securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He holds 21 state licenses. (Information current as of June 19, 2025.)

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.