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Ex-LPL Broker Cheryl Kerber Fined & Suspended for False Statements About a Loan

FINRA fined and suspended Cheryl Sue Kerber (née Cheryl Sue Holmes), formerly a broker at LPL Financial's San Diego, CA branch, for making false statements to the firm regarding a loan she had made to a fellow registered representative at LPL.

AWC #2015045351801

The findings state that Kerber (CRD #4854741) loaned money to another LPL rep that he in turn used to purchase real estate in Hawaii and construct a vacation rental property to operate as a business. The report indicates that Kerber subsequently submitted a compliance questionnaire to LPL Financial in which she attested that she had not loaned or received any money or securities to another individual.

When Kerber submitted a disclosure form to LPL several months later to describe the purpose of her loans, she purportedly told the firm the loan was for the construction of the fellow representative's personal home, even though Kerber knew it was used to finance a vacation rental property that was being operated as a business.

Kerber's BrokerCheck report indicates that after leaving LPL Financial in 2015, she gained employment with First Allied Advisory Services and Seaside Wealth Management, in a non-registered rep capacity.

If you have invested with Cheryl Sue Kerber or with any broker or financial adviser who has made a false statement regarding loans or similar monetary transactions that posed a conflict of interest or otherwise hindered, harmed, or adversely affected your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

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The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.
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