The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Shelley Eddy. According to her publicly available FINRA BrokerCheck report, Shelley Eddy has been the subject of multiple customer disputes over the course of her career.

Shelley Eddy is a Georgia based securities broker. She has worked in the securities industry for fifteen years. During her career, she has been registered with six different securities firms.

His Registrations

  • IDS Life Insurance Company (2004-2006)
  • Ameriprise Financial Services (2004-2007)
  • MML Investors Services (2007-2010)
  • Curian Clearing (2010-2015)
  • SII Investments (2013)
  • Peachcap Securities (2015-Present)

The Allegations 

  • In October 2019, a customer alleged that Shelley Eddy mismanaged her investments. This case is currently pending. The customer is seeking $43,541 in damages.
  • In December 2019, another customer alleged that Shelley Eddy mismanaged her investments. This case is currently pending. The customer is seeking $27,936 in damages.
  • In January 2020, a customer alleged that Shelley Eddy mismanaged their accounts. This case is currently pending. The customer is seeking $49,551 in damages.
  • Also in January 2020, customers alleged that Shelley Eddy recommended unsuitable investments, failed to diversify their portfolio, and made material misrepresentations and omissions. This case is currently pending. The customers are seeking $49,954 in damages.
  • In February 2020, a customer alleged that Shelley Eddy recommended unsuitable investments, failed to diversify their portfolio, and made material misrepresentations and omissions. This case is currently pending. The customer is seeking $22,009 in damages.

What Does This Mean?

Securities brokers are required to make sure that their customers’ portfolios are adequately diversified in a suitable manner. This means that their account can not solely comprise of one or two securities. If this is the case, then the success or failure of the customer’s account is entirely determined by the success or failure of those one or two investments. Investor portfolios should consist of multiple investments so that the investor does not lose everything if the value of one security plummets.

Diversity is also important in regards to level of risk. If an investor’s account is over-concentrated in high-risk securities, then the account can be incredibly volatile. Investors with more moderate objectives need to have their portfolios diversified among investments with varying level of risks. This means that the customer can expose some assets to moderate risk, while to still keeping most of their assets in safe investments.

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 Shelley Eddy, please contact Oakes & Fosher for a free and private consultation. We handle cases on a contingency basis, which means there are no fees charged unless we collect for you.