RYAN PHILLIP KELLEY

RYAN PHILLIP KELLEY is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 407 WASHINGTON ST #1A, TOLEDO, OH, 43604-5909.

RYAN PHILLIP KELLEY has worked at LPL FINANCIAL LLC since October 27, 2009

Disclosure History

RYAN PHILLIP KELLEY has 1 Disclosure Event(s).

Date: December 12, 2007
Category: Customer Dispute
Allegations: CUSTOMERS ALLEGE THAT THE FINANCIAL ADVISOR MADE UNSUITABLE INVESTMENT RECOMMENDATIONS AND MISREPRESENTED FACTS REGARDING THOSE INVESTMENTS.
Damage Amount Requested: $235,000.00
Settlement Amount: $35,000.00
Broker Comment: RYAN KELLEY ADAMENTLY DENIES ALL ALLEGATIONS OF WRONGDOING. DOCUMENTARY EVIDENCE SUPPORTS THE FACTS THAT IT WAS CLAIMANTS WHO INSISTED ON AN ALL-EQUITY PORTFOLIO AGAINST MR. KELLEY'S REPEATED ADVICE TO DIVERSIFY THEIR PORTFOLIO. FURTHERMORE, THE SECURITY THAT CAUSED THE MAJORITY OF LOSSES IN CLAIMANT'S ACCOUNTS WAS PURCHASED ON AN UNSOLICITED BASIS. THE FIRM BELIEVES THAT MR. KELLEY HANDLED CLAIMANT'S ACCOUNTS IN AN APPROPRIATE AND PROFESSIONAL MANNER. THE MATTER WAS SETTLED SOLELY TO AVOID THE TIME AND EXPENSE OF AN ARBITRATION.

More Information

All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.

A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.

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