- Name: Philip Gordon Condit
- CRD Number: 2489945
- Location: Fargo, North Dakota
- Current Status: Owner of Condit Wealth Management (Registered Investment Adviser)
- Former Broker-Dealer Affiliation: LPL Financial LLC (until January 2026)
- Condit Capital Management Co. – Investment advisory and insurance
- Condit CPAs and Advisors PC – Tax and accounting services
- Northern Tax Resolution, Inc. – Tax and accounting services
- Condit Wealth Management Co. – Registered Investment Adviser
- Condit Properties, LLC – Real estate rental
- LPL Financial LLC: November 2017 – January 2026
- National Planning Corporation: November 2006 – November 2017
- FSC Securities Corporation: May 1994 – November 2006
Mr. Condit was discharged by LPL Financial LLC in November 2025 for failing to disclose and obtain approval for participation in a prohibited outside business activity, a practice commonly known as “selling away.”
This type of allegation is concerning for investors because it can involve recommendations or sales of investments that were not vetted, approved, or supervised by the broker-dealer—and may increase the risk of unsuitable, fraudulent, or inappropriate investment recommendations.
- Discharged for: Participating in a prohibited outside business activity without pre-approval.
- Alleged Violations: Failure to disclose outside business activities and receive approval as required by FINRA Rule 3270.
As of the latest comprehensive investigation, no public records or regulatory databases list complaints, customer disputes, lawsuits, or SEC/FINRA enforcement actions against Philip Gordon Condit (CRD 2489945).
This includes a thorough search through FINRA’s BrokerCheck, SEC’s EDGAR enforcement database, and federal/state court dockets.
| Database/Area | Findings |
|---|---|
| FINRA BrokerCheck | No regulatory actions, disclosures, or customer disputes as of January 2026 |
| SEC Enforcement & EDGAR | No enforcement releases or administrative actions |
| Federal/State Court Dockets | No lawsuits, judgments, or active litigation |
| Industry & Media News | No public reports of complaints or disciplinary action |
- “Selling Away” Allegations: The primary red flag is Mr. Condit’s discharge due to outside business activities not disclosed to his broker-dealer—this practice bypasses firm oversight and can leave investors exposed to higher risks.
- Lack of Broker-Dealer Supervision: After leaving LPL Financial, Mr. Condit is not currently registered with a FINRA-member firm, which may limit regulatory protections for investors.
- Complex Business Affiliations: Multiple related businesses may create potential for conflicts of interest, especially if not properly disclosed to clients.
- Regulatory Compliance Gaps: Even in the absence of prior customer complaints or regulatory fines, a discharge for undisclosed activity can indicate potential oversight or compliance failures.
- Can investors sue Philip Gordon Condit through FINRA arbitration? Yes. If you have sustained losses due to Mr. Condit’s actions while he was registered with a broker-dealer, you may be able to seek damages through FINRA arbitration.
- Is there a current class-action or SEC action? As of this report, no class-action or SEC disciplinary process names Mr. Condit.
- What if I worked with one of his affiliated companies? Investors who have concerns related to Condit Wealth Management, Condit Capital Management Co., or other related entities should carefully review all investment recommendations and account activity. Independent legal review is recommended.
Even with no public findings of fraud or customer complaints, the matters leading to Mr. Condit’s discharge are a serious concern. If you worked with Philip Gordon Condit—especially while he was with LPL Financial LLC—and have questions about your investments, preservation of retirement funds, or unexpected losses, you should take the following steps:
- Gather statements, correspondence, and documentation related to your accounts.
- Request account and transaction details from all broker-dealers and advisory firms involved.
- Contact an specialized investment fraud attorney for a case review.
Haselkorn & Thibaut offers a free, confidential consultation to all affected investors. With over 50 years of combined experience, a 98% success rate, and “no recovery, no fee” policy, their legal team is ready to advocate for your interests and explore avenues for loss recovery.
If you are an investor with concerns about your accounts managed by Philip Gordon Condit—either through LPL Financial LLC or any affiliated company—contact Haselkorn & Thibaut today at 1-888-885-7162 for a complimentary, no-obligation case assessment. Don’t wait. Your right to seek recovery may be time-limited.
