Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Did You Have an Account Managed by Kevin McCallum of LPL Financial?

Meyer Wilson is investigating allegations that Alabama-based broker Kevin McCallum engaged in unauthorized trading and unsuitable purchases of risky investments. McCallum worked for LPL Financial until 2019 and has not been registered since.

McCallum has been the subject of eight customer disputes and one regulatory action. Four disputes against McCallum are currently pending and four were settled. McCallum consented to a one-year suspension by the Financial Industry Regulatory Authority (FINRA) for allegedly recommending unsuitable investments to twelve customers. According to FINRA, these unsuitable recommendations resulted in his customers’ investments being overconcentration in a high-risk business development company.

FINRA rules require brokers to obtain customer’s permission prior to making any trades on their account. Failure to do so may result in unauthorized trading. Brokers must consider enough information about the financial situations of individual customers and have a reasonable basis for believing a recommendation of a purchase or sale of an investment is suitable for you. Otherwise, they may be liable for recommending an unsuitable investment.

Firms are required to supervise the activities of brokers. If you suffered financial losses due to McCallum’s actions, you may be able to hold Kevin McCallum and LPL Financial liable. The experienced securities and investment fraud attorneys at Meyer Wilson would like to discuss your legal options with you. Please contact Meyer Wilson today for a no-cost consultation.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram