Joe Kelly: FINRA Investigates Ex-Spartan Advisor

New York City financial advisor Joe Kelly (CRD# 4560737) made excessive and unauthorized trades, according to a regulatory investigation. Financial Industry Regulatory Authority records show that he is registered as a broker with VCS Venture Securities, having previously been registered with Spartan Capital Securities.

Mr. Kelly’s BrokerCheck report discloses FINRA’s investigation into his conduct. Filed in March 2025, the disclosure states that FINRA preliminarily determined to recommend disciplinary action against him. The action would allege that he violated FINRA rules and securities law by churning investments, making unsuitable and excessive trades, and unauthorized trading. FINRA has not yet filed any official action against him.

A second disclosure on Mr. Kelly’s BrokerCheck report concerns an investor complaint against him. Filed in 2018, it alleged that as a representative of Spartan Capital Securities, he recommended unsuitable investments and engaged in churning. In 2023 the complaint reached a settlement of $30,000.

A second investor complaint, filed in 2016, alleged that as a Spartan Capital representative, he made misrepresentations of material facts and engaged in excessive trading. In 2017 the complaint reached a settlement of $225,365.

According to the Financial Industry Regulatory Authority, Joe Kelly holds 22 years of securities industry experience. Based in New York City, he has been registered as a broker with VCS Venture Securities since December 2024. His past registrations include Spartan Capital Securities, PHX Financial, National Securities Corporation, John Thomas Financial, Prestige Financial Center, Empire Asset Management Company, Aura Financial Services, and First Montauk Securities. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 26 state licenses. (Information current as of April 12, 2025.)

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