Derek Copeland: FINRA Bars Ex-LPL, SilverRock Advisor

Former Charlotte, North Carolina financial advisor Derek Copeland (CRD# 4347572) was recently sanctioned and barred in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with LPL Financial, doing business as SilverRock Wealth Partners.

A Letter of Acceptance, Waiver, and Consent (No. 2023077756701) describes FINRA’s disciplinary action against Mr. Copeland. Filed in March 2025, it states that as a representative of LPL Financial, he “participated in 74 private securities transactions without providing prior written notice to his firm.” The activities in question involved promissory notes and limited liability companies, while Mr. Copeland’s alleged participation involved due diligence, consulting with the investments’ offeror, introducing investors to and recommending the investments, and co-managing one of the LLCs through a company he jointly created and co-owned. “As a result of Mr. Copeland’s efforts,” FINRA found, 27 individuals invested nearly $11 million in the placements. Of these individuals, 27 were firm customers, and he received “at least $173,000 in compensation, including through management, consulting, and recommendation fees.”

However, FINRA notes, LPL’s policies at the time required representatives to provide the firm with notice—and to receive its approval—before participating in private securities transactions. The firm also prohibited brokers “from directing clients and non-clients to investments that were not approved by LPL,” the Letter adds. In spite of these policies, Mr. Copeland allegedly participated in the transactions, “which were outside the scope of his employment  with the firm,” without notifying LPL or receiving its approval. As a result of these findings, FINRA found that he violated its rules, and barred him from associating with any member firm in any capacity.

Mr. Copeland’s BrokerCheck report discloses one investor complaint. Filed in 2023, it alleged that as a representative of LPL Financial, he recommended unsuitable investments. The complaint reached a settlement of $175,000.

According to the Financial Industry Regulatory Authority, Derek Copeland holds 21 years of securities industry experience. Most recently based in Charlotte, North Carolina, he was most registered as a broker with LPL Financial from 2020 until 2023, doing business as SilverRock Wealth Partners. His registration history includes Spire Securities, Morgan Stanley, and UBS Financial. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the National Commodity Futures Examination, or Series 3; the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; and the Uniform Securities Agent State Law Examination, or Series 63. He has been barred from acting as a broker. (Information current as of March 24, 2025.)

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