Haselkorn & Thibaut, a leading national investment fraud law firm, has opened an investigation into Earl Newsome, a financial advisor based in Spring, Texas, currently registered with LPL Financial and previously associated with NEXT Financial Group. With over 50 years of experience, a 98% success rate, and millions recovered for investors nationwide, our team is dedicated to providing clarity and support for investors who may have concerns about their experiences with Mr. Newsome. If you are an investor who has worked with Earl Newsome or NEXT Financial Group, this research report provides a detailed, unbiased review of his history and the red flags you should know. For a free, confidential consultation, contact Haselkorn & Thibaut at 1-888-994-8066.
Who is Earl Newsome?
Earl Newsome (CRD# 2436856) is a financial advisor licensed with LPL Financial in Spring, Texas. He brings over 31 years of industry experience and has a lengthy regulatory record, having worked at several firms, including NEXT Financial Group, 1717 Capital Management Company, Wealth Development Strategies Investment Advisory, and Royal Alliance Associates. He holds the SIE, Series 63, and Series 7 licenses, giving him the authority to offer a range of securities and financial advice in multiple states.
Summary of Regulatory Record and Complaints
| Date | Firm | Nature of Complaint | Outcome | Amount |
|---|---|---|---|---|
| August 2025 (Pending) | NEXT Financial Group | Allegedly recommended unsuitable and “poorly designed” indexed universal life insurance policies | Pending | $198,000 |
| 2008 (Withdrawn) | 1717 Capital Management | Alleged misrepresentation of material facts related to an insurance policy | Withdrawn | Unspecified |
| 2004-2005 (Settled) | 1717 Capital Management & Royal Alliance Associates | Alleged unsuitable life insurance recommendation and unsuitable investment advice | Settled | $92,500 |
Detailed List of Disclosures & Complaints
- August 2025 Complaint (Pending): An investor alleges that while affiliated with NEXT Financial Group, Mr. Newsome recommended unsuitable and poorly designed indexed universal life insurance policies. The complaint seeks damages of $198,000 and is currently pending.
- 2008 Complaint (Withdrawn): Filed by an investor who alleged that Mr. Newsome, then with 1717 Capital Management, misrepresented material facts regarding an insurance policy. This complaint was withdrawn and did not result in a monetary settlement.
- 2004 Complaint (Settled): This earlier claim alleged that Mr. Newsome, working with both 1717 Capital Management and Royal Alliance Associates, had recommended an unsuitable life insurance policy and provided unsuitable investment advice. This matter resulted in a settlement of $92,500. Importantly, settlement documents included an investor statement confirming their belief that Mr. Newsome did not act with intentional or deliberate misconduct. The case was resolved to avoid the expense of prolonged legal proceedings.
Regulatory Examinations and Broker Profile
- Licensed as a broker and investment advisor in Alabama, Colorado, Georgia, Illinois, Kentucky, New Jersey, North Carolina, Texas, Washington, and Wisconsin.
- Passed the SIE, Series 63, and Series 7 exams.
- Has over three decades of experience navigating the securities industry and regulatory landscape.
- You can confirm Mr. Newsome’s registration and disclosure history by visiting FINRA BrokerCheck and searching for CRD# 2436856.
What Should Investors Consider?
If you are or were a client of Earl Newsome at LPL Financial or NEXT Financial Group, consider the following:
- Review all account statements and policy documents for your investments and insurance products.
- Ask questions if you do not fully understand the structure or suitability of products recommended by your advisor.
- If you experienced significant, unexplained losses or products you did not understand, consider seeking a free, confidential review with an experienced investment fraud attorney.
Recognizing Red Flags
- Pattern of Complaints: While not every complaint results in regulatory action, a history of multiple investor disputes—especially involving suitability and alleged misrepresentation—should signal a need for further diligence.
- Pending Large Complaint: The existence of a pending six-figure claim focused on unsuitable policy recommendations further underscores the importance of reviewing your own account for similar issues.
- Regulatory Records: Although his official FINRA profile may not list regulatory actions, customer complaints are a critical part of the full picture.
How Haselkorn & Thibaut Can Help Investors
Haselkorn & Thibaut is a national investment fraud law firm exclusively dedicated to helping investors nationwide recover losses. Our multi-decade history and 98% success rate give investors confidence and clarity.
If you have questions about your experiences with Earl Newsome in Spring, TX, or concerns about recommendations involving life insurance, annuities, or risky investments at LPL Financial or NEXT Financial Group, reach out for a no-risk, confidential conversation. Our “no recovery, no fee” policy ensures you do not pay unless we recover money for you.
Contact Haselkorn & Thibaut today at 1-888-994-8066 for your free consultation. Our attorneys can answer your questions, provide insight into complex investment products, and help you understand whether you may have a claim.
Your investments are too important to leave to chance. Take a proactive step—review your accounts and get help if you have concerns about your experience with Earl Newsome or NEXT Financial Group.
