Jim Shenk: $160K Complaint Against Coastal Equities Advisor

Recent investor complaints against Glen Rock, Pennsylvania financial advisor Jim Shenk (CRD# 2876098) allege that his investment advice resulted in six-figure damages. Records maintained by the Financial Industry Regulatory Authority indicate that he is a broker and an investment advisor with Coastal Equities and Coastal Investment Advisors, respectively.

Mr. Shenk’s BrokerCheck report discloses two investor complaints. The most recent, filed in December 2022, alleges that as a representative of Coastal Equities, he recommended unsuitable direct investments. The pending complaint alleges damages of $160,000.

A second investor complaint, filed in September 2022, alleges that as a representative of Coastal Equities, he misrepresented material facts and recommended unsuitable alternative investment products. The pending complaint alleges damages of $250,000.

According to the Financial Industry Regulatory Authority, Jim Shenk holds 25 years of securities industry experience. Based in Glen Rock, Pennsylvania, he has been a broker and an investment advisor with Coastal Equities and Coastal Investment Advisors, respectively, since 2015. His past registrations include LPL Financial (Glen Rock, Pennsylvania; 2006-2015), Raymond James Financial Services (York, Pennsylvania; 2003-2006), Wachovia Securities (Hunt Valley, Maryland and St. Louis, Missouri; 1999-2003), and First Union Capital Markets (Charlotte, North Carolina; 1997-1999). His credentials include the passage of eight securities industry qualifying exams: the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Colorado, Connecticut, Florida, Maine, Maryland, Massachusetts, Michigan, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, Virginia, and Wisconsin. (Information current as of January 8, 2023.)

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