A former LPL Financial advisor has gotten an 18-month suspension and must pay almost $250,000 for guiding client investments through a company he had set up outside of LPL, FINRA says.

From August 2010 to November 2012, Marc H. Baldinger advised 20 high-net-worth individuals and institutions to invest in government bonds -- steering them to accounts he'd created at two other brokerages, according to recently filed FINRA disciplinary action documents.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access