John Burton entered the financial industry in 1993, working for MML Investor Services. After that he worked for Investors Capital Corp. from 1998 to 2011. He worked for LPL Financial from 2011 to 2013.
On April October 23, 2013 Burton entered into a letter of Acceptance, Waiver and Consent (AWC). According to the AWC, On April 2, 2013, while employed by LPL, one of Burton’s customer’s daughter sent a letter to LPL complaining about surrender charges associated with her parent’s variable annuities purchased with Burton earlier that year. Later that month, the customers withdrew over 5,000 from one of their annuities, including a 314.00 surrender charge. Burton then wrote the customers a check for the 314.00 surrender charge without telling LPL. As a result he was fined 5,000 and suspended from FINRA for ten business days.
John Phillip Burton is currently a registered broker with Summit Brokerage Services and has been since 2013.