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Michael Shanahan Allegedly Failed to Follow Investor’s Instructions

Feb 4, 2023 Failure to Follow Instructions

Michael Shanahan (CRD #: 4230069), a broker registered with LPL Financial, was involved in a recent investor dispute, according to his BrokerCheck record, accessed on January 26, 2023. Investors may have also worked with him through Overland and Shanahan. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

On November 11, 2022, an investor alleged that Michael Shanahan failed to follow instructions. This dispute was denied by the firm.

However, investors should know that firms don’t need to allow an outside review before denying a dispute. Investors may be able to recover their funds by pursuing FINRA arbitration after a denial.

FINRA Rule 2010

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

Background Information

Michael Shanahan has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination

Michael Shanahan is a registered broker in 31 states and a registered investment adviser in California and Texas.

He has also worked for the following firms:

  • John P. Overland, CLU, CHFC (CRD#:133505)
  • New England Securities (CRD#:615)
  • CSFBDirect (CRD#:42159)

Kurta Law Can Help

If you worked with Michael Shanahan 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.