Lincoln Financial Advisors Corp. must pay $2 million to a broker who alleged that his company fired him and then damaged his professional reputation, a securities arbitration panel ruled Wednesday.
Jeffrey A. Concepcion, 45, a veteran broker and manager for Lincoln Financial Advisors, alleged he was fired after having arranged a business venture on behalf of the company, but before he sealed the deal, according to a ruling by a Financial Industry Regulatory Authority (Finra) arbitration panel ruling.