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My Perspective on the Shane DeSherlia Case

As a financial analyst and writer, it’s my job to shed light on issues that investors face, and it’s quite alarming to hear about the recent troubles involving broker Shane DeSherlia. We’re looking at accusations that point towards poor investment advice and negligence. Currently working with Moloney Securities Co. Inc., and Moloney Securities Asset Management LLC in Jerseyville, Illinois, DeSherlia’s professional conduct is under scrutiny.

The Concerns Raised by Clients

I took a deeper look into this matter starting with the claims made on July 19, 2023. An investor took action by filing FINRA Arbitration: 23-01941 against Shane DeSherlia. They expressed concerns that during 2019-2020, DeSherlia neglected required care when advising on investments, particularly corporate bonds which led to severe losses. The client is now fighting for reimbursement of $500,000. This case is still waiting for a verdict.

Another disconcerting incident came to my attention when, on July 5, 2023, a separate investor also filed a FINRA complaint. Identified as Arbitration: 23-01821, the client alleges that DeSherlia’s investment recommendations lacked proper suitability and care during the period between 2018-2020, causing quite a hit on their bond investments. They’re now asking for $182,000 in damages—a situation that’s still unfolding.

Settlement Over Improper Investment Decisions

An additional chapter of this saga unfolded when yet another Moloney Securities Co. client addressed inappropriate bond transactions by filing FINRA Arbitration: 22-01814 against DeSherlia. The specific charge was negligence tied to poor trading decisions, and the outcome was the client facing notable financial losses. In an interesting twist, as of November 17, 2023, a settlement was made with the client receiving $20,450.

Despite these serious charges, DeSherlia and his affiliations—Moloney Securities Co. and Moloney Securities Asset Management LLC—contest the veracity of these claims. Nevertheless, these instances have undoubtedly got investors’ antennae up, causing a stir and apprehension amongst them. If you’re in a similar boat—feeling that your investments took a hit due to ill advice—it’s essential to not sit on the sidelines. There’s a well-known saying by Benjamin Franklin, “An investment in knowledge pays the best interest,” and in your case, knowledge could equate to recuperating what’s rightfully yours.

Don’t forget that there’s hope to restore what’s lost financially; all it takes is the right counsel and decisive action. Here is where I would place a strong recommendation to check an advisor’s FINRA CRM number to confirm their track record and credibility FINRA BrokerCheck. Unfortunately, a distressing financial fact is that investors suffer annually due to bad financial advisors, with malpractice lawsuits estimated to cost clients in the billions. It’s more crucial than ever to be vigilant.

In these complex and often opaque situations, I believe it’s our duty to clarify, guide, and advocate for those potentially misled by their trusted advisors. Clarity is power, and as we unfold the details behind these cases, investors should take heart that there are ways to reclaim what’s lost. If you feel aggrieved by the decisions made on your behalf by your broker or advisor, don’t hesitate; seek professional advice immediately. Your financial security isn’t just a concern—it’s a right that must be protected.

Remember, these events surrounding Shane DeSherlia serve as a poignant reminder that one must be vigilant and proactive about monitoring one’s investments. It’s not just about securing your financial future—it’s about ensuring that those entrusted with your assets are acting in your best interests. As I continue to monitor and report on proceedings like these, I’m here to ensure you get the straightforward and expert insights you deserve, whenever and wherever they are needed.

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