Ex-Vorpahl Wing & LPL Financial Broker Lee Victor Nordstrom Barred After Allegedly Placing IRA Trades 4 Days After Client's Death

Attorney Advising Disclaimer

FINRA barred former Vorpahl Wing Securities and LPL Financial (both Spokane, WA) broker Lee Victor Nordstrom for refusing to cooperate with FINRA's investigation into allegations he engaged in unsuitable and excessive trading in several customer accounts, including placing trades in the IRA account of a customer who died just days earlier.

Vorpahl Wing allegedly terminated Lee Nordstrom (CRD #2248261) in April 2020 for failing to adhere to the firm's suitability policy; FINRA's subsequent investigation in AWC #2020065149801 identified potentially unauthorized trades in an IRA account, writing that the trades were placed four days after the owner died and that the surviving spouse, as beneficiary, did not authorize the trades.

Despite Nordstrom's discharge from Vorpahl Wing, LPL Financial nonetheless hired Nordstrom in June 2020; that registration ceased in November 2020, a day after a former client filed a dispute alleging excessive trading and over-concentration in two stocks, and seeking damages of $450,000.

Prior to the present incident, prior employer Wells Fargo Advisors (also in Spokane) permitted Nordstrom to resign in 2011 in the midst of allegations that Nordstrom may have exercised discretion in customer accounts without prior or proper written authorization.

If you invested with Lee Victor Nordstrom in the Spokane, Washington area, or with any broker or financial adviser who unsuitably, excessively, or without authorization traded in your or a loved one's account, and this improper activity has proven harmful to your investments or interests, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

Related Posts
  • After $13 Million in Penalties for 'Widespread Failure,' Oppenheimer Fined $500,000 for Supervisory and Suitability Gaps Read More
  • FINRA barred former Independent Financial Group (IFG) broker Brett Arthur Hartvigson of San Diego, California for refusing to cooperate with its investigation into allegations that were part of a complaint. In 2021, while associated with IFG, Brett Harvgi Read More
  • Stifel Nicolaus Failed to Detect Unsuitable Recommendations Despite Risk Policy, Says FINRA Read More