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Matthew Lum Allegedly Acted Negligently and Recommended Unsuitable Investments

Matthew Lum

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on May 2, 2018 indicate that Texas-based Cetera Advisor Networks broker/adviser Matthew Lum has been involved in several customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Lum (CRD# 1622477).

Matthew Lum has spent 30 years in the securities industry and has been registered with Cetera Advisor Networks in Corpus Christi, Texas and Santa Barbara, California since November 2017. Previous registrations include Girard Securities Santa Barbara, California (2004-2017); Sentra Securities Corporation in Phoenix, Arizona (2001-2004); SII Investments in Appleton, Wisconsin (1997-2001); FSC Securities Corporation in Atlanta, Georgia (1995-1997); Corporate Benefit Securities in Mission Viejo, California (1990-1995); First Affiliated Securities in La Jolla, California (1989-1990); PFG Securities (1988-1989); and Washington National Equity Company (1987-1988). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on December 2, 1999; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 23, 1998; Series 7 (General Securities Representative Examination), which he obtained on November 19, 1988; Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on May 18, 1987; and Series 24 (General Securities Principal Examination), which he obtained on July 8, 2004. He is a registered broker and investment adviser with eleven US states: Arizona, California, Colorado, Florida, Hawaii, New York, Texas, Utah, Virginia, Washington, and Wyoming.

According to his BrokerCheck report, he has received four customer complaints.

In 2016 a customer alleged Matthew Lum, while employed at Girard Securities, committed fraud, negligently misrepresented material facts, breached his fiduciary duty, and violated unfair competition laws. The complaint settled for $310,000.

In 2015 a customer alleged Matthew Lum, while employed at Girard Securities, acted negligently, misrepresented material facts, and recommended unsuitable investments. The complaint settled for $615,000.

In 2010 a customer alleged Matthew Lum, while employed at Girard Securities, recommended unsuitable investments. The complaint settled for $290,000.

In 2010 a customer alleged he, while employed at Girard Securities, recommended an unsuitable loan fund. The complaint settled for $175,000.

If you or someone you know has lost money investing with Matthew Lum, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.