Steven Kibbel: Why Did LPL Fire Shorebreak Advisor?

Nashville, Tennessee financial advisor Steven Kibbel (CRD# 6800914) was recently terminated by a former member firm in connection with alleged rule violations. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former LPL Financial broker is currently registered as an investment advisor with Shorebreak Capital.

Mr. Kibbel’s BrokerCheck report discloses his termination from LPL Financial. Filed in November 2025, it states that the firm fired him in connection with allegations that he participated in an unapproved outside business activity and “used unapproved messaging platform to transmit business-related communications.”

For reference, FINRA Rule 3270 prohibits advisors like Mr. Kibbel from engaging in unapproved outside business activities. “No registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm,” the rule states specifically, “unless he or she has provided prior written notice to the member, in such form as specified by the member.” Brokers who violate this rule may be subject to disciplinary action by their member firms or by securities industry regulators.

According to the Financial Industry Regulatory Authority and the SEC, Steven Kibbel holds eight years of securities industry experience. Based in Nashville, Tennessee, he has been registered as an investment advisor with Shorebreak Capital since November 2025. His past registrations include LPL Financial, Beacon Capital Management, and Merrill Lynch. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. He is licensed as an investment advisor in Texas. (Information current as of December 14, 2025.)

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