Haselkorn & Thibaut, a leading national investment fraud law firm, has initiated an investigation into the activities of Gregory Wayne Berg, a former Houston, TX-based financial advisor most recently registered with LPL Financial LLC. If you are an investor who has worked with Gregory W. Berg, this report is designed to empower you with facts, help evaluate your investments, and highlight important steps if you have experienced losses.
Who Is Gregory Wayne Berg?
Table of Contents
Gregory Wayne Berg (CRD #3081088) built a career as a financial advisor and stockbroker spanning more than two decades. His most recent employment was with LPL Financial LLC in Houston, Texas from August 2023 until January 2026. Previously, he was affiliated with Merrill Lynch, Pierce, Fenner & Smith Incorporated from July 2005 to August 2023, and before that with Morgan Stanley DW Inc.
It is important to note that as of the latest update, Gregory W. Berg is not currently registered with any FINRA-member firm.
Summary of Registration History
- LPL Financial LLC (Houston, TX): 08/2023 – 01/2026
- Merrill Lynch, Pierce, Fenner & Smith Incorporated: 07/2005 – 08/2023
- Morgan Stanley DW Inc. (Purchase, NY): 08/1998 – 07/2005
- Winegar Berg Wealth Management: Other business affiliation
Why Is Gregory W. Berg Under Investigation?
Haselkorn & Thibaut (investmentfraudlawyers.com) is investigating reports related to Gregory W. Berg’s handling of client accounts, especially in light of recent disclosures and his 2025 departure from LPL Financial. Investors should be aware of the following:
- Discharged from LPL Financial LLC in December 2025 after allegations he failed to escalate a customer complaint in a timely manner and purportedly settled a customer complaint without firm approval.
- A pending customer dispute and a recently filed civil lawsuit regarding the handling and representations made about variable annuities during his time at Merrill Lynch.
Details of Claims and Disclosures
- Customer Dispute: In February 2026, a civil lawsuit (Case No. 2026-08802) was filed in Harris County, Texas, alleging that Gregory W. Berg, while at Merrill Lynch, omitted important facts related to a variable annuity sold to the client in February 2007. The claim seeks $143,000 in damages and is currently pending.
- Reason for Discharge from LPL Financial: Noted as failure to escalate and resolve a customer complaint through official firm channels.
As a result of these issues, investors who worked with Gregory W. Berg—especially those who purchased variable annuities or had disputes—should assess the handling of their accounts and consider their options for possible recovery of losses.
Summary Table: Public Disclosures & Complaint Track Record
| Advisor Name | CRD Number | Broker-Dealer | Complaints | Arbitrations | SEC Actions | FINRA Actions | State Actions |
|---|---|---|---|---|---|---|---|
| Gregory Wayne Berg | 3081088 | LPL Financial LLC | 1 (pending, civil) | None | None | None | None |
Red Flags to Watch for as an Investor
- Failure to Disclose Risks or Features of Products: The pending civil lawsuit alleges omissions and misrepresentations regarding a variable annuity—meaning that some risks or important features may not have been properly explained to clients. Transparent disclosure is central to protecting investor interests.
- Failure to Escalate or Report Complaints: The reason for Mr. Berg’s termination at LPL Financial involved settling a client dispute outside approved firm channels. This can prevent investors from receiving appropriate oversight and recourse.
- Changes in Registration Status: Mr. Berg is not currently registered with any FINRA-member firm. If you are seeking ongoing advice or have questions about past transactions, be aware of the registration status of any financial professional you engage.
How to Check on Your Advisor
For the most accurate and up-to-date information on registration status, disciplinary history, and any customer complaints, always review your advisor’s profile on FINRA BrokerCheck.
Haselkorn & Thibaut: Your Resource for Investor Protection
- National Leaders in Securities Law: Haselkorn & Thibaut is a nationwide law firm with over 50 years of experience representing investors.
- 98% Success Rate: Our attorneys have recovered millions for clients on a “no recovery, no fee” basis.
- Free Consultations: If you have questions about your account with Gregory W. Berg, reach out for a confidential, cost-free evaluation of your circumstances.
Take the Next Step: Protect Your Investments
If you experienced losses or have concerns about investment recommendations made by Gregory W. Berg while at LPL Financial LLC or any prior firms, take action now. Early review and professional guidance can maximize your options for recovery, especially where misrepresentation or lack of disclosure may be involved.
Speak with an experienced investment fraud lawyer at Haselkorn & Thibaut by calling 1-888-885-7162 today. There is no obligation or cost for your case review, and you pay nothing unless there is a recovery. The law firm is dedicated to helping investors nationwide—your inquiry is kept strictly confidential.
Summary Table: Gregory W. Berg and LPL Financial LLC
| Advisor Name | CRD Number | Broker-Dealer |
|---|---|---|
| Gregory Wayne Berg | 3081088 | LPL Financial LLC |
Unsure about your portfolio or past recommendations? Call Haselkorn & Thibaut now at 1-888-885-7162 for a free, confidential consultation and let experienced securities attorneys guide your next steps.
