Sonn Law is reviewing options-trading complaints involving Nicholas Olivas (CRD No. 6803146), formerly of LPL Financial.

According to FINRA BrokerCheck, Olivas has four customer-dispute disclosures and one employment-termination disclosure.

A pending complaint seeks $300,000 in damages. The customer alleges that Olivas recommended an options strategy that was unsuitable and inconsistent with the customer’s investment objectives while he was associated with LPL Financial.

Another customer alleged that Olivas failed to follow options-trading instructions, causing financial loss. The customer requested $62,918, and the matter settled for $45,000 without an individual contribution from Olivas.

A separate 2023 options complaint was denied, and another complaint was withdrawn. Olivas denied the allegations in the 2023 matter. The current $300,000 complaint remains pending and unproven. FINRA BrokerCheck report (FINRA)

Did You Suffer Options Losses With Nicholas Olivas?

Brokerage firms must supervise options trading and determine whether recommended strategies are consistent with an investor’s experience, financial circumstances, risk tolerance, and objectives.

Investors who suffered losses while working with Nicholas Olivas or LPL Financial can contact Sonn Law Group to discuss potential FINRA arbitration claims.