Our firm is investigating LPL Financial LLC broker and investment adviser Jack Anthony Biedebach (CRD# 5060280) of Anaheim, California for potential investment-related misconduct.
Financial Advisor’s Career History
According to FINRA BrokerCheck, Jack Anthony Biedebach is currently registered as both a broker and an investment adviser with LPL Financial LLC in Anaheim, California, where he has been registered since September 18, 2014. His prior registrations include City National Securities, Inc. from May 2010 to September 2014, Chase Investment Services Corp. from May 2009 to May 2010, WAMU Investments, Inc. from March 2009 to May 2009, MetLife Securities Inc. from February 2009 to March 2009, Merrill Lynch, Pierce, Fenner & Smith Incorporated from April 2007 to February 2009, and UBS Financial Services Inc. beginning in 2006. The report also reflects that he has passed the Series 7, Series 66, and SIE exams and has reported the Certified Financial Planner designation.
Jack Anthony Biedebach Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck reflects two customer dispute disclosures for Mr. Biedebach, both reported while associated with LPL Financial LLC. One matter resulted in a settlement, while a later complaint alleging forgery was denied.
Settled Customer Dispute Involving Alleged Failure to Keep Account in Cash
FINRA shows that a customer complaint was received on October 30, 2020, alleging a failure to keep an account in cash against the client’s instructions during the period from April 2020 through September 2020. The product listed was a money market fund, and the alleged damages were $4,846.96. The matter later evolved into a FINRA arbitration in which Mr. Biedebach was a named party, and the dispute was settled on January 7, 2021, for $2,750.00, with no individual contribution reported by the broker. The BrokerCheck report lists FINRA arbitration docket number 20-03671.
In the broker statement reported to FINRA, Mr. Biedebach stated that LPL settled the matter for what he characterized as nuisance value, denied wrongdoing, and asserted that the claimant chose to liquidate the account after an automatic reallocation back into the market. He further stated that he advised the claimant to remain invested and that the account would have realized a substantial gain by December 1, 2020 if that advice had been followed.
2025 Forgery-Related Complaint That Was Denied
A second written customer complaint was received on January 13, 2025, alleging forgery of an account opening document involving a managed account. BrokerCheck lists alleged damages as $0.00. The complaint was denied, and the status date shown is January 22, 2025. In the broker statement, Mr. Biedebach said the complaint lacked merit, stated that the client had signed via e-signature, and said LPL determined the application was sent to the client’s email address of record and signed from a different IP address than his own.
FINRA Disclosure Summary
- Customer Dispute 1
- Allegation: Failure to keep an account in cash against client instructions
- Time period alleged: April 2020 to September 2020
- Product type: Money Market Fund
- Alleged damages: $4,846.96
- Complaint received: October 30, 2020
- Disposition: Settled
- Disposition date: January 7, 2021
- Settlement amount: $2,750.00
- Individual contribution: $0.00
- FINRA arbitration docket: 20-03671
- Customer Dispute 2
- Allegation: Forgery of account opening document
- Product type: Managed Account
- Alleged damages: $0.00
- Complaint received: January 13, 2025
- Disposition: Denied
- Status date: January 22, 2025
- Individual contribution: None reported
To obtain a copy of Jack Anthony Biedebach’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2010 requires member firms and associated persons to observe high standards of commercial honor and just and equitable principles of trade. In a case involving allegations that a broker failed to keep an account in cash as instructed, Rule 2010 can be relevant because FINRA often treats failure to deal fairly and honestly with a customer’s directions or account handling as conduct that may fall below those standards.
FINRA Rule 2090 requires firms to use reasonable diligence to know and retain the essential facts concerning every customer and the authority of each person acting on the customer’s behalf. In the context of the disputes disclosed here, that rule is relevant to whether customer instructions regarding cash positions were properly understood and whether account-opening authority and signature issues were adequately verified and documented.
FINRA Rule 4511 requires firms to make and preserve books and records required under FINRA rules and the Exchange Act. That rule can become important when a complaint centers on account-opening paperwork, e-signatures, or whether customer instructions and account records were properly created and maintained. In a forgery-related complaint involving an account application, Rule 4511 is often part of the broader compliance framework for evaluating whether the underlying documentation was properly preserved and supported.
The Law Offices of Robert Wayne Pearce, P.A. is a nationally recognized securities law firm representing investors in FINRA arbitration and securities fraud cases on a contingency fee basis. Robert Wayne Pearce, the founding attorney, has more than 45 years of experience recovering millions for victims of broker misconduct and investment fraud. He previously defended major brokerage firms and now uses that insight to protect investors nationwide. To discuss your case directly with Mr. Pearce, call (800) 732-2889 or email pearce@rwpearce.com for a free consultation.