Colin Kelty: $1.4 Million Complaint Against Oakbrook Cetera Advisor

Colin Kelty (CRD# 5859007), a financial advisor in Oakbrook, Illinois, has received an investor complaint alleging seven-figure damages. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with Cetera Investment Services.

Mr. Kelty’s BrokerCheck report discloses two investor complaints. The most recent was filed in March 2022, alleging that as a representative of Cetera Investment Services, he recommended unsuitable structured products investments that resulted in losses. The pending complaint alleges damages of $1.4 million.

An earlier investor complaint, filed in 2017, alleged Mr. Kelty recommended unsuitable investments in a variable annuity product. The complaint reached a settlement of $249,999.99. In a statement on the disclosure, Mr. Kelty wrote that the claim “was initially denied by my broker-dealer based on a determination that the product was suitable.” He continued, “The customer subsequently commenced an arbitration proceeding which was settled by my broker-dealer without any admission of wrongdoing.”

According to the Financial Industry Regulatory Authority, Colin Kelty holds eleven years of securities industry experience. Based in Oakbrook, Illinois, he has been a broker and investment advisor with Cetera Investment Services since 2011 and 2014, respectively. His past registrations include Vision Investment Services in Lincolnwood, Illinois (2010-2011). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; and the Securities Industry Essentials Examination, or SIE. He is licensed in Arizona, California, Colorado, the District of Columbia, Florida, Illinois, Kentucky, Michigan, Nevada, New Jersey, North Carolina, Ohio, Tennessee, Texas, Virginia, and Wisconsin. (Information current as of June 16, 2022.)

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