DID KEVIN MARSHALL MCCALLUM CAUSE YOU INVESTMENT LOSSES?
Kevin McCallum Formerly With LPL Financial LLC Has 9 Customer Complaints For Alleged Broker Misconduct
Who is Kevin McCallum formerly with LPL Financial LLC?
Kevin McCallum (CRD #2222586) who was formerly registered with LPL Financial LLC and located in Birmingham, Alabama, is a subject of one of our many securities industry sales practice abuse investigations. Prior to LPL Financial LLC, Kevin McCallum was associated with other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems. Kevin McCallum has had his own regulatory problems. In 2021, Kevin McCallum consented to the sanctions and to the entry of findings that he made unsuitable investment recommendations to 12 customers resulting in their overconcentration in a high risk, publicly traded business development company. He agreed to a suspension of one year, a fine of $25,000, restitution in the amount of over $1,222,000, and disgorgement in the amount of $14,231.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Kevin McCallum Customer Complaints
Kevin McCallum has been the subject of 9 customer complaints that we know about to recover investment losses. One customer complaint resulted in a FINRA arbitration in an arbitration award to the customer the amount of $500,000. Seven of the other customer complaints were settled favorably for the investors. There is still one customer complaint pending in a FINRA arbitration recently filed.
Allegations Against Kevin McCallum
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Overconcentration of client’s investments in a publicly traded business development company and options trading that was inappropriate for the customer’s investment objectives.
- Unauthorized and unsuitable purchases of a thinly traded over-the-counter stock.
- Unsuitable investment recommendations and overconcentration of client’s assets in Medley Capital Corporation.
- Overconcentration in a non-diversified closed-end management company.
- Unlawful exercise of discretion and concentration of client’s assets in a non-diversified closed-end management company.
Kevin McCallum Red Flags & Your Rights As An Investor
Of course, Kevin McCallum did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Kevin McCallum at LPL Financial LLC on alert to review carefully the activity and performance of their accounts and question whether Kevin McCallum has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at LPL Financial LLC also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At LPL Financial LLC Due To Kevin McCallum
If you have questions about LPL Financial LLC and/or Kevin McCallum and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
Rate this Post
Loading...