Haselkorn & Thibaut has opened an investigation into Larry Tolbert, a Memphis, Tennessee financial advisor, regarding multiple investor complaints alleging unsuitable investment recommendations during his tenure at Lion Street Financial. With over 50 years of combined experience, a 98% success rate, and millions recovered for clients, Haselkorn & Thibaut offers a free, confidential case review—call 1-888-885-7162 to take the first step.
Who is Larry Tolbert?
Larry Tolbert (CRD# 1054714) is a financial advisor and broker with an extensive career spanning more than 25 years in the securities industry. Currently, he is registered as both a broker and investment advisor with Integrity Alliance, operating as Radian Partners in Memphis, Tennessee. Throughout his career, he has held positions with numerous firms, including Lion Street Financial, FSC Securities Corporation, Private Client LLC, Householder Group Financial Advisors, and several others.
Mr. Tolbert has passed several industry qualification exams, including the Securities Industry Essentials (SIE), Series 66, Series 24, and Series 7 examinations. He is currently licensed in 14 states.
Red Flags: Customer Complaints and Regulatory History
During his time at Lion Street Financial, Larry Tolbert has been the subject of a series of investor complaints primarily concerning recommendations of allegedly unsuitable and high-risk investments. While regulatory actions and complaint resolutions are part of many advisors’ backgrounds, it is important for investors to understand the specifics before entrusting an advisor with their assets.
Summary of Complaints Against Larry Tolbert (Lion Street Financial)
| Date | Type | Allegations/Subject | Amount Sought | Resolution |
|---|---|---|---|---|
| 02/2026 | Customer Arbitration (Pending) | Unsuitable, risky, illiquid, and complex unsecured debt securities | $113,000 | Pending |
| 01/2026 | Customer Arbitration (Pending) | Unsuitable recommendation of unsecured debt securities | $85,000 | Pending |
| 2025 | Customer Arbitration | Negligence, unsuitable corporate bonds, contract breach, fiduciary duty breach | $13,500 | Settled |
| 2023 | Customer Arbitration | Unsuitable investment recommendations | $45,000 | Settled |
| 08/2015 | FINRA Arbitration | Breach of fiduciary duty, negligence, unauthorized trading, excessive fees | $113,000 | Settled for $55,000 |
| 11/2017 | FINRA Arbitration | Unsuitable variable annuity recommendations | $150,000 | Settled for $42,500 |
Other Relevant Disclosures on Record
- FINRA Regulatory Inquiry (2018): Informal inquiry into variable annuity sales practices. Concluded with no action taken and no formal customer claims.
- No SEC Enforcement Actions: There are no open or past regulatory actions from the SEC involving Larry Tolbert.
- No Civil Litigation: There are no public civil lawsuits outside of the listed FINRA arbitration matters.
- No Criminal Disclosures/Bankruptcies: No criminal charges or bankruptcy filings have been disclosed.
How Do These Complaints Impact Investors?
Choosing an advisor with a history of customer complaints should prompt careful consideration. The complaints against Larry Tolbert largely focus on unsuitable investment recommendations involving unsecured debt securities, variable annuities, and corporate bonds—all investment products which can be complex, illiquid, and risky for some investors, particularly those with low risk tolerance or income needs.
What Does ‘Unsuitable Recommendation’ Mean?
A recommendation is considered “unsuitable” if it is not aligned with the client’s risk tolerance, investment objectives, age, or liquidity needs. Advisors have a responsibility to recommend only those products that are appropriate for a given client. If you believe you have invested in a product that was unsuitable for your circumstances and suffered financial losses as a result, you may have recovery options.
Key Takeaways for Investors
- Multiple and recent customer complaints, including pending claims for over $100,000 at a time, are serious red flags demanding investor attention.
- The alleged behavior centers on making complex, illiquid, or risky recommendations to clients—these require clear disclosures and careful suitability analysis.
- All FINRA arbitration claims listed were resolved by settlement, with no admission of wrongdoing by Mr. Tolbert.
- There are no known criminal or SEC regulatory actions, but the volume and variety of arbitrations underscore the need for due diligence.
What Should You Do If You Invested with Larry Tolbert?
If you or someone you know invested with Larry Tolbert—especially during his tenure at Lion Street Financial—and experienced unexpected or significant investment losses, you may have grounds to seek recovery. Past settlements and disclosures highlight the importance of evaluating whether your investments were suitable and if all material risks were truly explained.
Haselkorn & Thibaut is reviewing claims related to these complaints and is offering free, confidential consultations. If you suffered investment losses with Larry Tolbert or at Lion Street Financial, call 1-888-885-7162 today for a no-obligation case evaluation. You pay nothing unless there is a recovery.
Why Choose Haselkorn & Thibaut?
- Decades of Experience: Over 50 years helping investors recover losses
- High Success Rate: 98% success achieving recoveries
- No Fee If No Recovery: You pay nothing unless you win
Contact Haselkorn & Thibaut now at 1-888-885-7162 for your free case review and to explore your recovery options.
