Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers, has commenced a thorough investigation into Steven R. Graham (CRD #1977736), a financial advisor currently registered with LPL Financial LLC. Our goal is to empower investors in California and beyond with transparency, actionable insights, and real recourse options. If you worked with Steven Graham and have questions regarding your investments, this report offers the critical facts and guidance you need.
As former Wall Street defense attorneys with over 95+ years of combined securities law experience, we have successfully represented investors in hundreds of arbitration claims, achieving a 98% success rate and involvement in matters exceeding $520 million. Our distinction as Super Lawyers and Martindale-Hubbell AV Preeminent (Top 2%) underscores our commitment to excellence and client advocacy. With a strict No Recovery, No Fee policy and 5.0-star client reviews, we provide hope and active legal support for those harmed by investment mismanagement.
Haselkorn & Thibaut’s Investigation: Why We’re Looking Into Steven R. Graham
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Our attorneys are investigating potential sales practice violations and Regulation Best Interest (Reg BI) issues involving Steven R. Graham of LPL Financial LLC, particularly concerning customer complaints alleging misrepresentation, negligence, and high-risk investment recommendations. We will outline all currently available details to help you determine if your situation warrants further review.
Advisor Background: Who Is Steven R. Graham?
| Advisor Name | Steven R. Graham |
| CRD Number | 1977736 |
| Current Broker-Dealer | LPL Financial LLC |
| Prior Firms | Western International Securities, Inc.; J.P. Morgan Securities LLC |
| Licenses & Exams | SIE, Series 7, 6, 24, 26, 63, 65 |
| Registration Jurisdiction | California (and referenced states via BrokerCheck) |
For complete regulatory records, please review the BrokerCheck profile.
Disclosures and Red Flags: What Investors Need to Know
Our review of Steven Graham’s FINRA BrokerCheck and related court records uncovered the following:
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Civil Regulatory Action (SEC v. Graham, Western International Securities, and Others)
- Date: Original filing June 15, 2022; final judgment August 28, 2024
- Steven Graham and others were charged with failing to meet Reg BI obligations concerning GWG L Bond recommendations to retail investors—products known for high risk and low liquidity.
- A federal court imposed a permanent injunction for a Reg BI violation, $30,186.59 in disgorgement, $1,513.07 in interest, and a $12,500 civil penalty. Graham was also required to implement further undertakings.
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Customer Disputes (Three Customer Complaints Disclosed)
- Dispute #1 (August 11, 2026): A client alleged misrepresentation/omission involving securities purchased in April 2020 and claimed $100,000 in losses. The matter was pending as of October 13, 2026. Graham denied wrongdoing, asserting the investment matched the client’s goals.
- Dispute #2 (October 24, 2023): Another customer alleged misrepresentation and negligence involving corporate bonds and sought $100,000 in damages. The complaint settled in May 2024 for $65,000. Graham reportedly made no personal contribution to the settlement.
- Dispute #3: Not detailed in summary records, but noted as existing in FINRA BrokerCheck disclosures.
Applicable Securities Rules and Why They Matter
- FINRA Rule 2010: Requires brokers to uphold high standards of commercial honor and fair trade.
- FINRA Rule 2020: Prohibits the use of manipulative, deceptive, or fraudulent tactics in securities transactions.
- Regulation Best Interest (Reg BI): Requires broker-dealers to act in the customer’s best interest when making recommendations, disclose conflicts and costs, and maintain robust compliance policies.
Allegations of misrepresentation, negligence, or failing to disclose risks can indicate violations of one or more of these industry standards. While a complaint or regulatory action does not, by itself, prove liability, it signals serious issues demanding careful review—especially if you have lost significant funds due to similar conduct.
What Does This Mean for Investors?
If you worked with Steven R. Graham at LPL Financial in California or through previous appointments at Western International Securities or J.P. Morgan Securities, and believe you may have been exposed to excessive risks or inadequate disclosures, your losses may be recoverable. Regulatory findings and customer complaint patterns often support investors pursuing recovery through arbitration or settlement.
Why Choose Us?
- Insider Knowledge: Our attorneys leverage decades as former Wall Street defense counsel. We understand broker tactics, weaknesses, and where to look for evidence.
- Proven Results: 98% success rate across hundreds of claims and $520M+ in securities matters handled.
- Top Professional Recognition: Super Lawyers, 5.0-star reviews, and Martindale-Hubbell AV Preeminent.
- No Recovery, No Fee: You pay nothing unless we recover your losses.
- Empathy and Advocacy: We treat your fight as our own, with your best interests at the center.
Request a Free Consultation—Your First Step to Recovery
If you lost money due to investments recommended by Steven R. Graham with LPL Financial in California or have concerns about his past conduct at Western International Securities or J.P. Morgan Securities, the time to act is now. Contact our attorneys for a 100% free, confidential consultation. We will review your losses, explain your legal options, and provide a realistic assessment of potential recovery—at no risk or obligation to you.
Speak with us now: Call 1-888-885-7162 and let us help you pursue the recovery you deserve. Our firm stands ready to fight for your financial future.