Former LPL Financial LLC broker Brendan Kelly (CRD# 2208036) is accused of private security losses. He has been registered with IFP Securities, LLC in Downingtown, Pennsylvania, since September 2024. He was registered with Alera Investment Advisors in Berwyn, Pennsylvania, from 2018 to 204, when he was terminated regarding, “IAR was terminated by unaffiliated BD for violation of policy. The subsequent investigation revealed additional policy violations.” He was previously registered with Triad Advisors LLC in Berwyn, Pennsylvania, from 2018 to 2024, Independent Financial Partners in Villanova, Pennsylvania, from 2012 to 2028, and LPL Financial LLC in Villanova, Pennsylvania, from 2012 to 2018.
Brendan Kelly Customer Complaints
He has been the subject of three customer complaints between 2010 and 2024, one of which was denied, according to his CRD report:
October 2024. “Customer alleges that between 2013 and 2018, representative recommended unsuitable investments in high risk and illiquid convertible notes and business development companies.” The customer is seeking $450,000 in damages, and the case is currently pending. The complaint was regarding private securities and closed end funds, and it took place while he was registered with LPL Financial LLC.
September 2024. “Customer filed a complaint with the Pennsylvania Insurance Department claiming he was misled regarding the purchase of a Nationwide variable annuity. Specifically, customer claimed he was told he could redeem $510,000 at maturity, but that amount was the income benefit base for the guaranteed income stream, not the accumulated value. The complaint was initially sent to Nationwide, which forwarded it to LPL.” The case is currently pending. The complaint was regarding variable annuities, and it took place while he was registered with LPL Financial LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, LPL Financial LLC may be liable for investment or other losses suffered by Brendan Kelly’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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