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Clayton Shum Fired from Grove Point Investments Following Alleged Policy Violations

Feb 23, 2023 Fired Brokers

Clayton Shum (CRD #: 4412927), a broker registered with Aegis Capital Corporation, was fired from his previous firm, according to his BrokerCheck record, accessed on February 14, 2023. Keep reading to learn more about his alleged conduct as a broker.

Termination from Grove Point Investments

On January 12, 2023, Clayton Shum was fired from Grove Point Investments following allegations that he violated firm policies, including those related to reporting customer complaints, the pre-approval requirements pertaining to variable annuities and seminars, and a firm prohibition on arranging personal financing for clients.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Clayton Shum has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Clayton Shum is a registered investment adviser and broker in California.

He has also worked for the following firms:

  • Grove Point Advisors (CRD#:313171)
  • Grove Point Investments (CRD#:1763)
  • H. Beck (CRD#:1763)
  • USA Financial Securities Corporation (CRD#:103857)
  • First Midwest Securities (CRD#:21786)
  • NYLIFE Securities (CRD#:5167)
  • Northwestern Mutual Investment Services (CRD#:2881)

Kurta Law Can Help

If you worked with Clayton Shum and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.