Our firm is investigating LPL Financial LLC broker and investment adviser Alvaro Mauricio Jiron (CRD# 4226147) of Coral Gables, Florida, for potential investment-related misconduct involving alleged misrepresentation of an offshore annuity and other unsuitable investment recommendations.
Financial Advisor’s Career History
Alvaro Mauricio Jiron has worked in the securities industry for more than two decades and is currently registered with LPL Financial LLC. According to his FINRA BrokerCheck report, he has been registered as a General Securities Representative with FINRA through LPL Financial since February 24, 2023, and as an Investment Adviser Representative since March 13, 2023. His current branch office is located at 2 Alhambra Plaza, Coral Gables, Florida 33134.
Over the course of his career, Jiron has been associated with multiple brokerage firms, including:
- Infinex Investments, Inc. (Coconut Grove, FL / Meriden, CT) – registered as both broker and investment adviser from July 2016 to February 2023.
- J.P. Morgan Securities LLC (Miami Lakes, FL) – registered as broker and investment adviser from January 2014 to July 2016.
- LPL Financial LLC (Miami, FL) – previously registered as broker and investment adviser from November 2009 to January 2014.
- Ameriprise Financial Services, Inc. (Minneapolis, MN) – registered in 2009.
- VALIC Financial Advisors, Inc. (Miami/Houston) – registered from 2003 to 2004.
- Merrill Lynch, Pierce, Fenner & Smith Incorporated – registered as broker and later investment adviser from 2001 to 2003.
- Charles Schwab & Co., Inc. – first reported broker registration beginning in 2000.
In addition to his LPL registration, his employment history reflects investment-related roles such as “Financial Consultant,” “SVP, Financial Consultant,” and “Investment Executive” at affiliated banking entities, including South State Bank and Coconut Grove Bank.
Alvaro Mauricio Jiron Fraud Allegations and Investor Complaints Explained
Public records from FINRA BrokerCheck show that Alvaro Mauricio Jiron has two customer disputes disclosed on his record: one currently pending FINRA arbitration involving an offshore annuity and one prior complaint that was denied without any payment to the customer.
2023 Customer Complaint – Mutual Fund Liquidity Allegations (Denied)
In August 2023, a customer of Jiron’s former firm, Infinex Investments, Inc., filed a written complaint alleging that the client was not informed that a mutual fund could only be tendered on a quarterly basis. The complaint asserted damages of $125,350.79 and alleged sales-practice violations related to the liquidity characteristics of the mutual fund investment.
The firm reported the complaint as a written, investment-related customer dispute involving a mutual fund product. After review, Infinex denied the claim, and the matter is reported as “Closed – No Action / Denied,” with no settlement or payout to the customer.
2025 Pending FINRA Arbitration – Offshore Annuity Misrepresentation
More recently, Jiron is the subject of a pending FINRA arbitration claim arising from his time at Infinex Investments, Inc. According to the disclosure:
- Product: Offshore annuity (reported as “Other: Offshore annuity”)
- Allegations: The client alleges that the financial professional misrepresented the product as “safe and secure.”
- Date Notice/Process Served: August 11, 2025
- Forum: FINRA arbitration (Docket/Case #25-01641)
- Alleged Damages: The initial alleged amount is $100,000, but the statement of claim reportedly seeks an award between $100,000 and $500,000.
The arbitration is currently reported as pending, and no final decision, award, or settlement amount has been reported. As with all pending matters, the allegations have not yet been proven, and Jiron has the right to contest the claims in the FINRA arbitration process.
Summary of Disclosures
- Customer Dispute (Denied – Mutual Fund Liquidity):
- Allegation: Failure to disclose that a mutual fund could only be tendered quarterly.
- Product: Mutual fund.
- Alleged damages: $125,350.79.
- Disposition: Firm and broker reported the complaint as Denied / Closed – No Action, with no payment to the customer.
- Customer Dispute (Pending FINRA Arbitration – Offshore Annuity):
- Allegation: Misrepresentation of an offshore annuity as “safe and secure.”
- Product: Offshore annuity.
- Alleged damages: at least $100,000, with the claim seeking between $100,000 and $500,000.
- Status: Pending FINRA arbitration under Case No. 25-01641, with no reported resolution to date.
These disclosures may indicate concerns about how complex, illiquid, or higher-risk investment products—particularly mutual funds with restricted liquidity and offshore annuities—were recommended and explained to customers.
To obtain a copy of Alvaro Mauricio Jiron’s FINRA BrokerCheck report, visit this link
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
(FINRA Rule 2111 — Suitability).
FINRA Rule 2111 requires that a broker or financial advisor have a reasonable basis to believe a recommended transaction or investment strategy is suitable for the customer, based on the client’s investment profile (age, financial situation, risk tolerance, liquidity needs, time horizon, and experience). In the context of the complaints involving Alvaro Mauricio Jiron, an offshore annuity or an illiquid mutual fund that can only be redeemed quarterly may be unsuitable if the customer needed ready access to principal, sought low-risk investments, or was not in a position to understand the product’s complexity. Allegations that the offshore annuity was sold as “safe and secure” and that the mutual fund’s limited liquidity was not explained raise core customer-specific suitability and reasonable-basis suitability questions under Rule 2111—namely, whether the products themselves were appropriate and whether they were properly matched to the customer’s profile.
(FINRA Rule 2210 — Communications with the Public).
FINRA Rule 2210 governs broker communications with the public and prohibits misleading statements, omissions of material facts, and exaggerated or unwarranted claims. Describing an offshore annuity or complex, illiquid investment as “safe and secure” without adequately disclosing market, credit, liquidity, or surrender-charge risks can be viewed as a violation of Rule 2210’s content standards. In the complaints concerning Jiron, any failure to clearly explain that a mutual fund could only be tendered quarterly, or to provide balanced information about the risks and limitations of the offshore annuity, may support a finding that communications were unbalanced, incomplete, or misleading under Rule 2210, even if ultimate liability is still being contested in the pending FINRA arbitration.
(FINRA Rule 2010 — Standards of Commercial Honor and Just and Equitable Principles of Trade).
FINRA Rule 2010 is a broad conduct rule requiring registered persons to “observe high standards of commercial honor and just and equitable principles of trade” in all business dealings. When a broker repeatedly recommends complex products that restrict liquidity or carry significant risk while promoting them as safe or secure, arbitrators and regulators may view that pattern as inconsistent with the ethical standards demanded by Rule 2010. In the matters disclosed for Jiron, any proven misrepresentation of an offshore annuity’s risk profile, or failure to fully disclose mutual fund redemption limitations in line with firm and industry standards, could be cited as conduct falling below the “just and equitable” benchmark, exposing both the individual advisor and the firm to potential liability in FINRA arbitration and related proceedings.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.
