Ryan Shoop Allegedly Engaged in Excessive Trading

Ryan Shoop (CRD #: 4522151), a broker registered with Stifel Independent Advisors, allegedly churned a client’s account, according to his BrokerCheck record, accessed on October 8, 2022. Keep reading if you have questions about his conduct as a broker.

Investor Dispute

On July 25, 2022, an investor alleged that Ryan Shoop churned their account and that the account’s gains were less than certain market indices. The dispute also alleges failure to supervise. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investors’ profiles describe their age, investment goals, risk tolerance, and other information.

Excessive trading (also called churning) violates this rule by being quantitatively unsuitable. The commissions and fees associated with excessive trading can significantly reduce or even cancel out an investor’s profit on an investment.

Investors who feel their losses were caused by unsuitable investment recommendations or excessive trading may be able to recover their funds through FINRA arbitration.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision over their employees to ensure their regulatory compliance. For example, firms must establish practices for reviewing securities transactions in clients’ accounts to detect violations of securities laws.

Background Information

Ryan Shoop 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

Ryan Shoop is a registered broker in 29 states and the District of Columbia. He is also a registered investment adviser in Ohio and Texas.

He has also worked for the following firms:

• Westminster Financial Securities (CRD#:20677)
• Wells Fargo Advisors Financial Network (CRD#:11025)
• Edward Jones (CRD#:250)

Kurta Law Can Help

If you worked with Ryan Shoop and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.