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Francisco P. Esparaza (CRD: 4420477)

Francisco P. Esparaza (CRD: 4420477)

Francisco P. Esparaza entered the securities industry in 2001. Esparaza worked for Morgan Stanley from 2001 to 2003/ He worked fro Citicrop Investment Services from 2003 to 2004 and for UBS Financial from 2004 to 2005. Francisco P. Esparaza worked for LPL Financial from 2005 to 2009 and for J.P. Turner from 2009 to 2010.

In 2008, while employed at LPL, a customer filed a complaint against Esparaza alleging unsuitable investments and breach of fiduciary duty. The client received the full amount requested in settlement, $16,479.

On January 14, 2010 Esparaza entered into an AWC with FINRA, consenting to a 10,000 fine and suspension for 15 business days from the financial institution. According to the AWC, Esparaza made unsuitable recommendations to several of his customers in order to receive 3% of the value of the shares his customers purchased. These credits were then applied to his commission grid which paid Esparaza around 40% of the production credits, equaling 1.2% of the value of the shares purchased by the clients.

Francisco Esparaza is not currently employed by any FINRA approved broker-dealer firm.