Last Updated: July 2025 – Reno, NV
Here’s what you need to know about Reno, NV, former stockbroker Mark Randall Wilburn:
- Name: Mark Randall Wilburn (Deceased 6/22/2023)
- CRD Number: 2487096
- Current Status: Not currently registered with any FINRA-member firm
- Most Recent Employer: LPL Financial LLC (2017–2022)
- Prior Employers: National Planning Corporation, Associated Securities Corp., Aragon Financial Services
- Function: Stockbroker / Financial Advisor
- Primary Location: Reno, NV
- Other Business Affiliations: Estate Planning Source, AWA Wealth Management, Mark R. Wilburn, Tax Services
- Can Mark Wilburn be sued in FINRA arbitration? Yes
- Sanctioned by Regulators? Yes
- Employment Termination After Allegations: Yes
- Highest Settlement or Award: $100,000
- Pending Arbitration Claim: Seeks $2,000,000 damages
If you’ve sustained damages from Mr. Wilburn, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Mark R. Wilburn As Your Stockbroker?
A pending arbitration , FINRA Case No. 25-00756 (initially filed as civil litigation in California Superior Court, Shasta County, Case No. 202789 in November 2023), alleges that Wilburn recommended inappropriate investments in ETFs and variable annuities between January 2020 and March 2022. The customer seeks $2,000,000 in damages for unsuitable advice and alleged misrepresentations.
In September 2021, a customer complaint was settled for $100,000 (Case Date: 8/27/2021). The customer had initially alleged forgery—later retracted—and pursued claims of unsuitable recommendations involving variable annuities, ETFs, and mutual funds.
Mark Wilburn was discharged by LPL Financial in March 2022, after the firm determined he used discretion to execute trades in customers’ variable annuity sub-accounts without the required written authorization. Unauthorized trading without discretionary authority is prohibited under FINRA Rule 3260(b) and can also violate FINRA Rule 2010, which mandates high standards of commercial honor.
Regulatory Action – CPA License Revocation (1997)
- In 1997, the California Board of Accountancy revoked Wilburn’s CPA license after determining he earned brokerage commissions from over 40 clients for whom he also prepared taxes—an activity prohibited under California’s CPA rules.
- Though Wilburn argued he did not present himself as a CPA, the Board ruled otherwise and revoked his license.
- He was also ordered to reimburse $5,452 in investigative costs if seeking license reinstatement.
Allegations of Broker Misconduct Against Mark R. Wilburn
Customer Dispute – Settled (2021)
Unsuitable investment recommendations involving annuities, ETFs, and mutual funds.
Recover Your Investment Losses Now With Rex Securities Law
Investigation of LPL Financial and LPL Brokers-Lawsuits, Arbitrations & Customer Disputes
If you have suffered investment losses in an account handled by Mark R. Wilburn, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.