Evan Lunsford: Old National Advisor Lands Energy Notes Complaint

Terre Haute, Indiana financial advisor Evan Lunsford (CRD# 5756621) has received multiple investor complaints alleging his conduct resulted in losses. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with LPL Financial, doing business as Old National Investments.

Mr. Lunsford’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in August 2023, alleges that as a representative of LPL Financial, he unsuitably recommended investments in structured notes tied to the energy market. The pending complaint alleges unspecified damages.

In a statement included with the pending complaint’s disclosure, Mr. Lunsford wrote that the investments were suitable at the time he recommended them. “While the performance of the investments ultimately did not turn out the way we expected as a result of COVID-related turmoil in the energy markets,” he added, “I deny any allegations that the investments were unsuitable or any other allegations of wrongdoing.”

An earlier investor complaint, filed in 2020, alleged that he recommended unsuitable energy structured notes while he was a representative of LPL Financial. In 2021 the complaint reached a settlement of $55,000. Mr. Lunsford wrote a statement denying the allegations and stating that the recommendations were suitable when he made them.

A third investor complaint, filed in 2020, alleged that he recommended an unsuitable structured note. The complaint reached a settlement of $100,000. “I fully discussed and disclosed to the customer all of the risks of his investment in the structured note that he purchased, and he indicated that he was aware of the risks,” Mr. Lunsford wrote in a statement. “Although I deny all allegations of wrongdoing, this complaint was settled in the interests of compromise and closure and to avoid the time and expense of further dispute.”

According to the Financial Industry Regulatory Authority, Evan Lunsford holds 12 years of securities industry experience. Based in Terre Haute, Indiana, he has been a broker and an investment advisor with LPL Financial since 2015, doing business as Old National Investments. His past registrations include Edward Jones (Terre Haute, Indiana; 2012-2015) and Northwestern Mutual Investment Services (Terre Haute, Indiana; 2010-2012). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Florida, Illinois, Indiana, Mississippi, Ohio, Texas, and Virginia. (Information current as of September 17, 2023.)

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