LPL Financial's Gregory Collins Cited for Failing to Disclose Side Gigs, Including Hedge Fund Role

Attorney Advising Disclaimer

FINRA fined and suspended former LPL Financial broker Gregory Edward Collins for failing to disclose five side jobs through which he earned an additional $150,000 in compensation, all while simultaneously being employed at LPL. Industry rules require registered representatives to disclose outside business activities in order to paint a transparent picture relative to potential conflicts of interest.

Collins in one of his undisclosed side jobs served as an strategic advisor for a hedge fund, which is information some brokerage customers might find useful in order to make sound investment decisions.

Gregory Collins (CRD #4224616)'s alleged misconduct goes farther than simply failing to disclose outside businesses, however. According to FINRA, Collins at one point did disclose two of the activities to LPL Financial, which denied his request to participate in them, only for Collins to ignore LPL's decision and continue participating anyway.

Investigators found that as part of his hedge fund consultant or advisory role, Collins traded securities and in doing so violated FINRA's rules regarding private securities transactions.

Collins' BrokerCheck file lists three outside business activities, two of which are investment related. Collins is or was listed as strategic advisor at Bass Rock Capital Management, and also an association with National DI (an insurance agency).

If you invested with ex-LPL Financial broker Gregory E Collins, whether in his capacity as a registered representative at LPL or a strategic advisor at Bass Rock Capital Management, and have suffered damages as a result of Collins' failure to disclose the potential conflicts of interests that come from an outside business activity, 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.

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