Jason Lowther: $125K Complaint Against Ex-Western Advisor

A recent investor complaint against Quincy, Massachusetts financial advisor Kevin O’Sullivan (CRDQ# 4499275) alleges that an oil and gas investment led to six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Commonwealth Financial Network, doing business as Axial Financial Group.

Mr. O’Sullivan’s BrokerCheck report discloses two investor complaints. The most recent, filed in August 2024, alleges that as a representative of Lincoln Financial Advisors, he recommended an unsuitable oil and gas product. The pending complaint alleges damages of $300,000.

An earlier investor complaint, filed in 2022, similarly alleged that an oil and gas product was unsuitable for a Lincoln Financial Advisors client. The complaint reached a settlement of $318,458.98. “The client’s arbitration was filed against my former broker dealer,” Mr. O’Sullivan wrote in a comment included with the disclosure. “I was not named in the matter. The client has specifically indicated to me that he is upset with the broker dealer’s lack of due diligence on the product in question, and not anything that I may have done. He continues to be a satisfied client.”

Axial Financial’s website includes a page describing the firm’s process. “We’re independent financial professionals and fiduciary advisors dedicated to the success and financial confidence of individuals, families, and business owners,” it explains. “We act in your best interest and provide independent advice centered on achieving your lifetime dreams; by designing a plan for each independent circumstance depending on your risk tolerance, time horizon, and goals.”

According to the Financial Industry Regulatory Authority, Kevin O’Sullivan holds 22 years of securities industry experience. Based in Quincy, Massachusetts, he has been registered as a broker and an investment advisor with Commonwealth Financial Network since 2016, doing business as Axial Financial Group. His past registrations include Lincoln Financial Advisors Corporation, the Lincoln National Life Insurance Company, Invest Financial Corporation, ING Financial Partners, MONY Securities, and MetLife Securities. His credentials include the passage of six securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Direct Participation Programs Representative Examination, or Series 22; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Connecticut, Florida, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, Ohio, and Rhode Island. (Information current as of September 28, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.