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Practice Management > Diversity and Inclusion

LPL Boots Rep Who Allegedly Refused to Hire Black Applicants

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What You Need to Know

  • LPL is ending its relationship with advisor and broker Eileen Cure after an investigation into allegations that she refused to hire Black applicants.
  • The firm had said Tuesday it was concerned by the comments attributed to her in a viral TikTok video.
  • Cure did not immediately respond to a request for comment about LPL's decision.

LPL Financial has ended its affiliation with the registered broker and advisor who runs Cure and Associates in Nederland, Texas, after investigating allegations that she refused to hire Black applicants for an open position at her office, according to the firm.

“Following our process for review of advisor conduct, Ms. Cure is no longer a client of the firm,” LPL said in a statement provided to ThinkAdvisor Wednesday evening.

LPL had said Tuesday it was “deeply concerned by the statements attributed to” Eileen Cure after videos posted on TikTok and shared across social media sites alleged she told her staff she didn’t want to interview Black applicants for an open position at her office.

In a video, Denise Bradley, who goes by the name auntkaren0 on TikTok and has more than 1 million followers, branded Cure the “racist of the day” after somebody on Cure’s staff forwarded Bradley an image of a statement allegedly made by Cure after interviewing a Black candidate for the position.

LPL has “seen the video alleging discriminatory comments by Ms. Cure,” the firm said in its statement on Tuesday. “We immediately launched an internal investigation to review the matter and a decision is forthcoming this week regarding Ms. Cure’s relationship with the firm. We will not tolerate discrimination of any kind in our LPL community.”

Cure did not immediately respond to a request for comment Wednesday about LPL’s decision to end its relationship with her.

However, earlier on Tuesday, Cure emailed a comment to ThinkAdvisor about the controversy, saying: “The entirety of this situation is based upon a TikTok video published by an unrelated individual without press credentials or affiliations using an unauthenticated photo of an alleged internal office chat without validation or context of any content.”

The published photo of her statement and “subsequent related false and defamatory materials and statements, which have incited false commentary and threats of violence and bodily harm toward me and my staff and acts which are being investigated as criminal in nature, are being publicized on a social media platform by a third party who is not related or in any way affiliated with me or my office,” she said.

Additional third parties who are using the TikTok posts for “further publication appear to be doing so without further investigation or validation,” Cure noted. “In response to this situation, I have taken all necessary action to protect the safety and security of employees, clients, and parties related to my business. I have taken steps to confirm that race never has and will not be a factor in hiring decisions at my firm.”

She added: “I am committed to continuing to ensure that my firm and other business interests will not tolerate incitement of violence, judgment before due process, or discrimination or harassment of individuals with regard to race, color, religion, national origin, sex, age, disability, veteran status, or on the basis of any other legally protected status or characteristic.”

According to Bradley’s initial video, Cure allegedly told her staff in a Skype message: “i wanted to tell you i specifically said no blacks. I’m not a prejudice person, but our clients are 90% white and i need to cater to them…so that interview was a complete waste of my time…so please don’t second guess me or go against what i ask…listen to me and give me what i ask for please.”

Cure had been registered with LPL since 2018, according to her report on the Financial Industry Regulatory Authority’s BrokerCheck website.

Pictured: Eileen Cure