Frank Kelly, Financial Advisor Suspended from Securities Industry

Frank Kelly, Financial Advisor Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses

Frank Kelly CRD #2028226

Frank Kelly is currently licensed with HD Vest Investment Services. According to Frank Kelly’s CRD, Frank Kelly was suspended from the securities industry for three months and fined $5,000 in June 2019. According to Frank Kelly’s CRD, Frank Kelly consented to the sanctions and to the entry of findings that he engaged in an unauthorized trade in a customer’s account. The findings stated that the sale would have caused the customer to suffer a realized loss of $1,010, had the customer not detected the trade and complained to Frank Kelly’s member firm, which then reversed the trade. The findings also stated that Frank Kelly exercised discretion in the accounts of customers, when responding to their requests to disburse funds from their accounts. Although the customers had given Frank Kelly implied authority to exercise discretion in their accounts, none of the customers had provided prior written authorization and he did not obtain written authorization from his firm to make trades in the accounts on a discretionary basis. Frank Kelly’s use of discretion is aggravated by instances where he liquidated positions in a sum materially greater than the dollar amount requested by the customer and by the inaccurate annual attestation he submitted denying that he had used discretion.

According to Frank Kelly’s CRD, a complaint has been filed with the client alleged he was led to believe that the products into which he invested were suitable. The client further alleged he received poor advice and that the products were not suitable. According to Frank Kelly’s CRD, this complaint is currently pending.

If you lost money on investments with Frank Kelly and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Frank Kelly’ conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Frank Kelly and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us. 

Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange

Contact Us Today!

[]
1 Step 1
keyboard_arrow_leftPrevious
Nextkeyboard_arrow_right
FormCraft - WordPress form builder