The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Shane Kelly. According to his publicly available FINRA BrokerCheck report, Shane Kelly has been the subject of multiple customer disputes.

Shane Kelly was a Florida based securities broker. He worked in the securities industry for seventeen years. During his career, he was registered with twelve different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Baxter Banks & Smith (1999)
  • Prudential Securities Incorporated (1999)
  • Merrill Lynch (1999-2002)
  • Wachovia Securities (2002)
  • J.B. Hanauer & Co. (2002-2005)
  • H&R Block Financial Advisors (2005-2006)
  • XCU Capital Corporation (2006-2007)
  • LPL Financial Corporation (2007-2008, 2014-2017)
  • Key Investment Services (2008-2009)
  • PNC Investments (2009-2011)
  • Suntrust Investment Services (2011-2014)

The Allegations

  • In February 2012, a customer alleged that Shane Kelly did not advise them of the penalty that accompanied an annuity surrender prior to 59 and a half years old.
  • In February 2016, a customer alleged that Shane Kelly engaged in the unsuitable trading of their account. This case was settled for $38,000 in damages.
  • In May 2017, a customer alleged that Shane Kelly excessively traded their account and executed unauthorized trades. This case was settled for $18,743 in damages.
  • In May 2017, Shane Kelly was discharged from his position at LPL Financial following allegations that he engaged in short-term trading of unit investment trusts and corporate bonds.
  • In March 2018, a customer alleged that Shane Kelly excessively traded their account, charged them excessive commissions, and recommended unsuitable investments. This case was settled for $12,000 in damages.

Shane Kelly was eventually barred by FINRA from acting as a securities broker in any fashion.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Shane Kelly, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.