Shannon Moore: $200K Complaint Against LPL Advisor

Jefferson City, Tennessee financial advisor Shannon Moore (CRD# 2934682) recently received an investor complaint alleging that his conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with LPL Financial, doing business as Moore Investment Services and First Peoples Financial Services.

Mr. Moore’s BrokerCheck report discloses two investor complaints. The most recent, filed in June 2024, alleges that as a representative of LPL Financial, he he recommended an unsuitable real estate investment in 2016. The pending complaint alleges damages of $200,000.

In a statement included with the complaint’s disclosure, Mr. Moore defends himself against the allegations. “The representative denies any wrongdoing and asserts that the allegations are without merit,” he writes. “The investments about which the customer complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after his review of all material documentation related to the investments. At all times, the representative put the customer’s interest first.”

An earlier investor complaint, filed in May 2024, similarly alleged that as a representative of LPL Financial, he recommended an unsuitably risky real estate investment. The complaint alleged unspecified damages and was withdrawn.

In a complaint included with the disclosure, Mr. Moore wrote that the client had prior experience investing in real estate investment trusts (REITs) and that his investment constituted a small portion of his overall assets. “While, unfortunately, the investment ultimately did not perform as we had expected, the investment was suitable based on the information that was known at the time of my recommendation,” he wrote. “ I am pleased that the client has elected to withdrawal his claim from the case.”

According to the Financial Industry Regulatory Authority, Shannon Moore holds 26 years of securities industry experience. Based in Jefferson City, Tennessee, he has been registered as a broker with LPL Financial since 2011, doing business as Moore Investment Services and First Peoples Financial Services. His past registrations include UVest Financial Services Group (Newport, Tennessee; 2001-2011) and Pruco Securities Corporation (Newark, New Jersey; 1997-2001). His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or SIE. He is licensed in Alabama, Florida, Georgia, Illinois, Kentucky, Mississippi, North Carolina, Ohio, South Carolina, Tennessee, and Virginia. (Information current as of July 6, 2024.)

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