Last Updated: October 2025 — Spring, TX
Here’s what you need to know about Spring, TX stockbroker Earl Eugene Newsome:
- Name: Earl Eugene Newsome.
- Current Employer: LPL Financial LLC — registered 07/10/2025; primary branch listed in Spring, TX; firm CRD 6413.
- Prior Firms: NEXT Financial Group, Inc. (11/2007–07/2025, Spring/Houston, TX); 1717 Capital Management Company (10/2002–11/2007); Royal Alliance Associates, Inc. (02/1994–08/2002).
- Other Business Affiliations: Insurance Agent (non-variable insurance; LPL Insurance) reported 07/2025, approx. 60 hrs/mo in Spring, TX.
- CRD number: 2436856.
- Stockbroker / Financial Advisor: Yes — currently registered with 1 SRO; licensed in multiple U.S. states/territories; passed SIE, Series 7, and Series 63.
- Can Broker be Sued in FINRA: Yes — BrokerCheck shows customer dispute disclosures.
- Sanctioned by Securities Regulators: No regulatory sanctions disclosed in this report.
- Discloses Outstanding Liens: None disclosed in this report.
- Discharged by a Prior Employer: Not disclosed in this report.
- Highest Award of Settlement: $92,500 (NASD arbitration 04-03855; disposition 03/16/2005–04/05/2005; individual contribution $40,000).
- Current Customer Dispute Seeks Total Damages of: $198,000 (written complaint received 08/04/2025; indexed universal life policies).
If you’ve sustained damages from Mr. Newsome, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Earl E. Newsome As Your Stockbroker?
- Pending customer dispute (written complaint): Received August 4, 2025 at NEXT Financial Group, Inc.; customers allege their 2016 purchases of two indexed universal life policies were poorly designed and unsuitable for their circumstances; alleged damages: $198,000.
- Prior FINRA/NASD arbitration (settled): NASD Case No. 04-03855 alleging unsuitable variable life insurance (activity while with Royal Alliance, c. 1999); settled for $92,500 on 03/16/2005–04/05/2005; individual contribution $40,000.
- Customer dispute (withdrawn/closed): Written complaint received 12/28/2006 alleging misrepresentation/deceit related to lapse of a 1999 insurance policy; status withdrawn on 10/13/2008.
Allegations of Broker Misconduct Against Earl E. Newsome
- Unsuitability — recommending life-insurance products that are inconsistent with a customer’s objectives or financial situation may violate FINRA Rule 2111 (Suitability). The pending and prior matters center on suitability of variable and indexed universal life products.
- Breach of Fiduciary/Best-Interest Obligations — for retail recommendations made after June 30, 2020, brokers must comply with SEC Regulation Best Interest (Exchange Act Rule 15l-1). (Often cited alongside suitability in life-insurance product disputes.)
- Fraud / Misrepresentation or Omission of Material Facts — deceptive statements about policy features, costs, or performance may violate FINRA Rule 2020 and FINRA Rule 2010. The withdrawn 2006 complaint alleged misrepresentation/deceit tied to a lapsed policy.
- Unauthorized Trading — placing transactions without prior authorization can violate FINRA Rule 3260 (Discretionary Accounts) and FINRA Rule 2010. (Listed as a common claim in customer disputes generally; not specifically alleged in the items above.)
Recover Your Investment Losses Now With Rex Securities Law
LPL Financial Lawsuits, Arbitrations and Customer Complaints and Disputes
Investigation of NEXT Financial Group-Lawsuits, Arbitrations & Customer Disputes
If you have suffered investment losses in an account handled by Earl Eugene Newsome, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
Firms We Have Pursued On Behalf of Our Clients
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.