ROBERT KEVIN MAFERA at LPL FINANCIAL LLC – View Complaints, Disclosures, Scams and Audit Report (Updated 2023)



CRD# 1986799

Disclosure #1 for ROBERT MAFERA

    • eventDate: 2/19/2016
    • Disclosure Type: Customer Dispute
    • Disclosure Resolution: Denied
    • Disclosure Detail :: Allegations: The clients stated that the advisor recommended they move their assets from class A shares to class C shares in October, 2011.
    • Damage Amount Requested: $5,761.24
    • Arbitration Docket Number:
    • Broker Comment: After they were assigned to me I flew down to Florida in October of 2011 to meet with [customers. We met at their home and discussed using asset allocation with periodic rebalancing as a strategy for their IRA’s. I reviewed with them the strengths and tradeoffs of both A class shares and C class shares. Because of the initial sales charge using A class shares (which would also be assessed whenever we rebalanced) we agreed that C shares would be a better fit. They could avoid a sales charge when purchasing funds and could redeem funds with no surrender provided they held them for a year. We discussed the higher (1%) internal fee inherent with C class shares, but felt that it would be offset by avoiding front end sales charges initially and when rebalancing. [Customer opted for a moderately conservative allocation with a higher cash position as he would be taking required distributions. [Customer opted for a moderate allocation. At our meeting on June 21st, 2012 [[spouse brought up the issue of share class. Her uncle had told her that she should have A class shares. We reviewed the reasons why we opted for the C class shares and, at the time, she understood and accepted that if we were going to make adjustments in her account the C class shares offered more flexibility by not having to overcome the front end sales charges. On October 29th 2013 during one of our reviews [spouse expressed an interest of moving from a moderate allocation to a moderately aggressive allocation. Had we used A class shares initially, this change would have subjected [spouse’s account to additional front end sales charges as we would be redeeming money from the more conservative funds and adding to the more aggressive front loaded A shares. All of these meeting notes were sent to Ameriprise when we terminated. We have copies of the notes also. Share class analyzer of the A/C comparison was uploaded to Ameriprise before the initial purchase of the funds. The Math: [spouse’s IRA was valued at $65,932 in October of 2011. On November 30, 2015 it was valued at 78,952. Assuming a 5.5% annual return, [spouse would have paid approximately $2,820 in 12B-1 fees using C class shares for her IRA over that time period. Had she used A class shares with front end sales charges and .25% 12B-1 fees her costs would have been closer to $3,645. That doesn’t include rebalancing which would have made the A shares even more expensive as each time additional purchases into the A shares were made they would be subject to the sales charge. Since I have not been able to get a copy of the actual complaint letter, so I am writing this based on the little information that has been given me.

Should I file a FINRA complaint against brokers like ROBERT KEVIN MAFERA?

Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who lost money in this fashion may actually be entitled to damages. You may suffer significant losses at the hands of your financial advisors’ misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results.

Update – 2022.11.15If you have suffered investment losses that may have been caused by ROBERT KEVIN MAFERA’s negligence or fraud, contact a FINRA lawyer today. Most FINRA lawyers work on a contingency fee basis, meaning that you will not be charged for their services unless they successfully collect money for you. Kindly add a comment, or contact us directly if you have any query, or want to be contacted by a FINRA lawyer today! helps you make informed choices about brokers and brokerage firms and provides easy access to investment adviser information. Our database reports whether a person or firm is registered, as required by law, to sell securities (stocks, bonds, mutual funds, and more), offer investment advice, or both. We provide you with a snapshot of a broker’s employment history, regulatory actions, investment-related licensing information, arbitrations, and complaints, and allow users to share their experiences and reviews with these brokers and brokerage firms.

Frequently Asked Questions About ROBERT KEVIN MAFERA

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Where can I find more details about ROBERT MAFERA’s Investment Firm?

Visit to read a detailed report for LPL FINANCIAL LLC

Are there any disclosures, allegations or complaints filed against ROBERT KEVIN MAFERA?

Yes. There are disclosures, allegations, or complaints filed against ROBERT KEVIN MAFERA. Click here to view all details

Where can I download a detailed FINRA report for ROBERT MAFERA?

Click here to download a detailed FINRA report for ROBERT MAFERA

Is it safe to do business with ROBERT KEVIN MAFERA?

We’re not sure. Please research ROBERT MAFERA’s disclosures, allegations and complaints before taking a decision

Originally reported on November 16, 2022 @ 12:41 am

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