John Matson Terminated By LPL For Selling Client Unapproved Investment

John Matson (John Nicholas Matson CRD# 1796541) is a former registered broker and investment advisor last employed with LPL Financial LLC (CRD#:6413) of Manhattan Beach, CA. Previous employers include Ameriprise Financial Services, Inc. (CRD#:6363) of Los Angeles, CA, Citigroup Global Markets Inc. (CRD#:7059) of El Segundo, CA, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of New York, NY. He has been in the industry since 1996.

LPL Financial terminated Matson’s employment on 11/16/2022 with allegations that he neither notified nor sought approval from the firm for participating in investments that were not approved by LPL.

FINRA began an investigation into Matson’s activities following a call from an 80-year-old customer. The customer stated that Matson recommended that he invest in a promissory note. However, after the customer took this advice, Matson apparently failed to continue making interest payments on this note.

Following the call, FINRA requested information and documentation from Matson regarding the customer’s investments. Matson indicated through both phone calls with FINRA and an email exchange that he would not be providing any of the requested information, in violation of FINRA’s rules.

In signing the Letter of Acceptance, Waiver & Consent (AWC), Matson neither admitted nor denied any of the findings. He also consented to the sanction of being barred from all affiliations with FINRA broker-dealers in any capacity.

Following the disciplinary action, a customer filed a dispute on 1/26/2023 with no allegations, just the date range of 1/5/12—1/26/23. The customer is requesting damages of $610,000, and the claim is currently “pending.” No additional information is available.

FINRA’s Securities Helpline For Seniors

BrokerCheck is just one of the many free tools available for investors to use. It’s available online 24/7 and lets investors of all ages look up a company, broker, or investment. The tool offers information on a person or company that’s available so investors can see their backgrounds.

Seniors who have questions can also call FINRA’s dedicated Securities Helpline For Seniors at 844-574-3577 to speak with someone about brokerage accounts, brokers and their firms, and other investment-related questions. Like the 80-year-old customer mentioned earlier, you can also call to address any concerns if you believe your account or investments have been mishandled. The service is free and available weekdays from 9:00 am to 5:00 pm Eastern time.

Did You Invest With John Matson?

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today at (800) 975-4345 and let us know how we can help.