Reid Rasner: Why Did LPL Fire Omnivest Advisor?

Casper, Wyoming financial advisor Reid Rasner (CRD# 6887076) was recently fired by his former member firm in connection with alleged rule violations. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former LPL Financial broker is currently registered as an investment advisor with Omnivest.

Mr. Rasner’s BrokerCheck report discloses his termination from LPL Financial. Filed in April 2026, the disclosure states that the firm fired him in connection with allegations that he participated in an unapproved outside business activity.

Investors should be aware that FINRA Rule 3270 stipulates that advisors like Mr. Rasner may not engage in unapproved outside business activities. “No registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm,” the rule states specifically, “unless he or she has provided prior written notice to the member, in such form as specified by the member.” Brokers who participate in unapproved outside business activities may be subject to disciplinary action from regulators or their member firms.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Reid Rasner holds eight years of securities industry experience. Based in Casper, Wyoming, he has been registered as an investment advisor with Omnivest since May 2026. His past registrations include LPL Financial and Edward Jones. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. He is licensed in New York and Wyoming. (Information current as of June 7, 2026.)

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