Greco & Greco PC The Securities Fraud Lawyers at Greco & Greco, P.C. are currently investigating and pursuing customer claims against LPL Financial regarding its former Iowa registered advisor, William “Bill” Tunink. According to FINRA’s Brokercheck Report for Mr. Tunink, he has a customer complaint related to a loan: “Customer lent $140,000 which had not been paid back.” The report states that the alleged damages were $135,500.00 and that the case was settled for $130,600.00.
The Brokercheck Report further states that LPL Financial “Discharged” Mr. Tunink for “Failed to disclose and receive prior approval for loans from customers; and settled a customer complaint away from the Firm.” Mr. Tunink had been registered with LPL as a securities representative from 2021 to September 2025, and previously was registered with Avantax Investment Services from 1996 to 2021.
Financial advisors who are registered with FINRA are generally prohibited from taking loans from their customers pursuant to FINRA Rule 3240. The limited exceptions in the rule include loans from family members, loans from financial institutions, and the borrowing or lending arrangement is based on a bona fide business relationship outside of the broker-customer relationship. However, even in those limited exceptions, the representative’s FINRA firm must be notified of the loan and approve the loan.
The Securities Fraud lawyers at Greco & Greco have decades of experience representing harmed investors from across the country for claims related to improper loans and broker theft, as well as claims for suitability, securities fraud, failure to supervise, negligence, violations of Regulation Best Interest, and breach of fiduciary duty. If you have had your trusted investment advisor solicit a loan from you or otherwise wrongfully take control of your funds and savings, please contact Scott Greco for a free attorney consultation.
Techwrix 
Money Crashers 
Techmeme 
The Hechinger Report 
Quit The Nine To Five