Francisco M. Gomez (CRD #6289883) is a registered stockbroker with LPL Financial LLC in Fate, Texas, who is the subject of an investigation by our firm regarding a pending customer dispute alleging improper annuity sales and conflicted loan arrangements.
Financial Advisor’s Career History
Based on publicly available FINRA BrokerCheck records, Francisco M. Gomez has the following securities industry and investment-related employment history:
- LPL Financial LLC (CRD #6413) – Fate, TX
- Registered Representative, April 2021 – Present
- BBVA Securities Inc. (CRD #27060) – Mesquite, TX
- Registered Representative / Retail Relationship role, June 2016 – April 2021
- Additional disclosed investment-related and other business activities include:
- Diligent Hands Wealth Management, LLC – DBA for LPL business (investment-related), Fate, TX
- K6 Investment Group LLC dba Keslee Blalock Entertainment – Business owner/managing member (non-investment-related)
This background reflects years of experience in brokerage and annuity-related business lines, with his current affiliation at LPL Financial LLC central to the pending complaint.
Francisco M. Gomez Fraud Allegations and Investor Complaints Explained
According to FINRA BrokerCheck, Francisco M. Gomez currently has one pending customer dispute reported. The allegations, which remain unproven at this time, are serious and focus on annuity recommendations and alleged conflicted transactions.
Pending Customer Dispute – Annuity Misrepresentation & Conflicted Loans
- Employing Firm at Issue: LPL Financial LLC
- Nature of Allegations:
- The customer alleges that in 2020 Mr. Gomez sold annuities without disclosing all material terms, including key features and restrictions.
- The customer further alleges that they provided loans at below-market rates to entities allegedly affiliated with Mr. Gomez, raising concerns about undisclosed conflicts of interest and self-dealing.
- Product Type: Annuity
- Alleged Damages: $395,869.90
- Date Complaint Received: September 15, 2025
- Status: Pending – no adjudication, settlement, or final finding reported as of the latest BrokerCheck update.
These allegations, if proven, may implicate core duties relating to suitability, full and fair disclosure of material terms (including surrender charges, risks, liquidity limits, and compensation), conflicts of interest, and fair dealing under FINRA rules.
Summary of Reported Disclosure
- Customer Disputes
- 1 pending customer dispute alleging:
- Action: Improper annuity sales and conflicted loan arrangements tied to entities allegedly affiliated with the advisor.
- Status/Disposition: Pending; no resolution or admission of liability reported.
- 1 pending customer dispute alleging:
Investors should understand that a “pending” disclosure means the claims are unresolved; the matter may ultimately be denied, dismissed, settled without admission of wrongdoing, or decided in Mr. Gomez’s favor.
To obtain a copy of Francisco M. Gomez’s full FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
Nationwide Representation in Annuity Misconduct and Broker Fraud Cases
The Law Offices of Robert Wayne Pearce, P.A. represents investors nationwide in cases involving alleged annuity misrepresentation, unsuitable recommendations, undisclosed conflicts of interest, and complex sales practice abuses. The firm regularly handles claims in FINRA arbitration (see the firm’s detailed FINRA arbitration guide for process insights) and has decades of experience pursuing recovery against major brokerage firms. Law Offices of Robert Wayne Pearce, P.A
Focus on Annuity Sales, Conflicts of Interest, and Misrepresentation
Allegations like those involving undisclosed annuity terms and below-market loans to affiliated entities raise concerns that brokers may have prioritized their own or related parties’ interests ahead of clients’. Investors who purchased variable or fixed annuities with complex riders, long surrender periods, or opaque costs can learn more about product risks in the firm’s discussion of variable annuities and equity-indexed annuities. Law Offices of Robert Wayne Pearce, P.A
How Our Securities and Stockbroker Fraud Lawyers Help Investors
Our stockbroker fraud lawyers pursue claims involving unsuitable recommendations, misleading sales presentations, misrepresentation and omission of material facts, and conflicted transactions that may violate FINRA rules and industry standards. Law Offices of Robert Wayne Pearce, P.A
Understanding Time Limits and FINRA Proceedings
The pending complaint asserts that annuities were sold without full disclosure of all material terms and that the customer extended below-market-rate loans to entities allegedly affiliated with the advisor. In this context, FINRA Rule 2111 (Suitability) is central. Rule 2111 requires that a broker have a reasonable basis to believe a recommended transaction or strategy is suitable for the customer based on their investment profile—including age, financial situation, tax status, investment objectives, risk tolerance, time horizon, liquidity needs, and other relevant factors. Failing to adequately explain key annuity terms (such as surrender charges, fees, illiquidity, rider costs, and long holding periods) may indicate the broker did not form or communicate an appropriate suitability basis for the recommendation. When an investor is encouraged to commit a substantial portion of assets—here alleged damages approach $400,000—into complex annuity products without clear, documented disclosure, arbitrators often look to whether the broker collected and analyzed sufficient customer information and whether the product reasonably aligned with the client’s needs and risk profile. If proven, the conduct alleged in the complaint could be argued to violate the reasonable-basis and customer-specific obligations embedded in Rule 2111.
The allegations that loans were provided at below-market rates to entities allegedly affiliated with the advisor further raise concerns under FINRA Rule 2210 (Communications with the Public). Rule 2210 requires that communications be fair and balanced and prohibit false, exaggerated, unwarranted, promissory, or misleading statements or claims. If any written or oral communications used to promote the annuities or related arrangements omitted material facts about conflicts of interest, compensation structures, or the advisor’s relationship with the borrowing entities, such omissions may be characterized as misleading. In arbitration, investor counsel may argue that the combined effect of incomplete disclosures and conflicted recommendations resulted in communications that did not provide a sound basis for evaluating the transactions, contrary to Rule 2210’s standards.
Finally, the pattern alleged—undisclosed material terms in annuity sales and loans benefiting entities said to be affiliated with the advisor—can implicate FINRA Rule 2010 (Standards of Commercial Honor and Just and Equitable Principles of Trade). Rule 2010 is a broad ethical standard that requires associated persons to observe high standards of commercial honor and just and equitable principles of trade in the conduct of their business. Even if specific technical suitability or disclosure provisions are debated, arbitrators and regulators may find that steering a client into transactions clouded by undisclosed conflicts, or failing to clearly communicate the economic realities of an annuity and related lending arrangements, falls short of these ethical requirements. If the facts alleged in the pending dispute are substantiated, they could support claims that Mr. Gomez and/or his firm violated Rule 2010 by putting their own interests, or those of affiliated entities, ahead of the investor’s best interests.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis.
Call (866) 860-8961 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.