LPL broker and CFP Michael McFeeley is the subject of numerous legal actions and complaints. The subject is oil and gas investments. Allegations are that LPL, through McFeeley, sold the investments inappropriately and without sufficient investigation. McFeeley is with the Academy Financial office of LPL located in Lutherville, MD.
Currently the subject of nine customer disputes, investors accuse McFeeley and his firm of inappropriate oil and gas recommendations. Oil and gas investments suitable only for a small section of the investing public. Additionally, investments must undergo investigation with due diligence by a brokerage to be sold to any investor. This latter requirement is the crux of the dispute.
McFeeley holds himself out as a CFP, Certified Financial Planner, on his website. A financial advisor who has met the CFP Board’s education, examination, experience, and ethics requirements. Their responsibilities generally fall into three main areas: 1) Client-centered fiduciary duty; 2) Financial planning and advice; and 3) Ongoing monitoring and compliance. In short, a CFP’s responsibility is to deliver holistic, ethical, and fiduciary-level financial advice to help clients manage all aspects of their financial lives.
Further, McFeeley asserts “We treat our clients’ wealth and planning needs as if it was our own and act as a catalyst to accomplish their goals from a cross disciplinary perspective.” The investors assert that LPL and McFeeley did not reach this standard.
Please contact Jeffrey Pederson with issues concerning oil and gas investments. He has helped his clients recover tens of millions of dollars over the last 25 years.
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