National investment loss lawyers KlaymanToskes is investigating broker Colin Kelty (CRD #5859007) of Cetera Investment Services LLC.
According to FINRA BrokerCheck, broker Colin Kelty of Cetera Investment Services is currently facing a customer complaint alleging unsuitable investment recommendations to invest in structured products that resulted in losses, with the customer seeking $1,567,400 in damages. Kelty is also facing a second pending complaint which alleges $240,000 in damages due to failure to liquidate certain securities upon transfer.
Investors that suffered losses with broker Colin Kelty are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Colin Kelty, a broker working with Cetera Investment Services LLC in Oakbrook, Illinois, since 2011, and with Cetera Investment Advisers LLC since 2014, is facing several customer complaints. The latest complaint, filed in May 2024, alleges that Kelty made unsuitable investment recommendations related to structured products, with the investor seeking $1,567,400 in damages. A second complaint from July 2023 alleges failure to liquidate certain securities when they were transferred, with the customer seeking $240,000 in damages. In September 2017, Kelty faced a third complaint related to losses from unsuitable variable annuity investments, which was settled in favor of the investor for $249,999.
Below is a timeline of customer allegations and losses, including concerns about mismanagement and unsuitable recommendations.
Allegation: Unsuitable recommendations regarding variable annuities.
Settlement: $249,999.
Allegation: Failure to liquidate securities upon transfer.
Damages Sought: $240,000.
Allegation: Unsuitable investment recommendations in structured products.
Damages Sought: $1,567,400.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Colin Kelty, or have concerns regarding your investment portfolio at Cetera Investment Services, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.