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Read MoreCalton Advisor Shawn Spellacy Receives $719K Complaint
Fair Oaks, California financial advisor Shawn Spellacy (CRD# 2275119) allegedly recommended investments that resulted in losses exceeding $700,000, according to a recent investor complaint against him. Records maintained by the Financial Industry Regulatory Authority show that he is a broker and an investment advisor with Calton & Associates.
Mr. Spellacy’s BrokerCheck report discloses three investor complaints. The most recent, filed in June 2023, alleges that as a representative of Calton & Associates, he recommended risky and unsuitable investment. The pending complaint alleges damages of $719,415.
A previous investor complaint, filed in 2012, alleged that as a Calton & Associates representative, he misrepresented and omitted material facts, violated California law, breached his fiduciary duty, and violated industry conduct rules. In 2013 the complaint reached a settlement of $99,999.
A third investor complaint, filed in 2009, alleged that he breached his fiduciary duty, made misrepresentations of material facts, and failed to conduct due diligence in connection with a 1031 exchange. The complaint reached a settlement of $50,010.
According to the Financial Industry Regulatory Authority, Shawn Spellacy holds 30 years of securities industry experience. Based in Fair Oaks, California, he has been a broker and an investment advisor with Calton & Associates since 1999 and 2004, respectively. His past registrations include Fortis Investors (Oakdale, Minnesota; 1994-1999) and GR Phelps & Company (1993-1994). His credentials include the passage of seven securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the General Securities Principal Examination, or Series 24; 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; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, California, Connecticut, the District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Louisiana, Mississippi, Nevada, Texas, Virginia, and Washington. (Information current as of July 25, 2023.)
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.
