Michael Kelley: $2mm Complaint Against LPL/Charter Advisor

Indianapolis financial advisor Michael Kelley (CRD# 1021878) recently received an investor complaint alleging that his conduct resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with LPL Financial and an investment advisor with Charter Advisory Corporation.

Mr. Kelley’s BrokerCheck report one recent investor complaint. Filed in in August 2023, alleges that as a representative of LPL Financial and Charter Advisory Corporation, he sold unsuitable investments and misrepresented the nature of the products, which included variable annuity and mutual fund investments. The pending complaint alleges damages of $2 million.

Charter Advisory Corporation’s website includes a page describing the firm’s commitment to its clients. “Not only will you find our team members knowledgeable, but you will also discover that our staff truly cares about making your dreams a reality,” it explains. “As your Financial Professionals, we will do everything in our power to keep you focused on where you want to go, advise you on the appropriate path, and continually remind you of the importance of maintaining a disciplined approach to pursuing your dreams.”

According to the Financial Industry Regulatory Authority, Michael Kelley holds 42 years of securities industry experience. Based in Indianapolis, Indiana, he has been registered as a broker with LPL Financial since 2009 and an investment advisor with Charter Advisory Corporation since 1999. His registration history includes Mutual Service Corporation (Indianapolis, Indiana; 1999-2009), Titan/Value Equities Group (Irvine, California; 1985-1999), and WZW Financial Services (1982-1985). His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the General Securities Principal Examination, or Series 24; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 59 state licenses. (Information current as of January 13, 2025.)

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