Ryan Shoop Involved In Stifel Independent Advisors Investor Dispute Alleging Unauthorized Trading

Investors have reportedly disputed the sales practices of securities broker Ryan Elliot Shoop [CRD: 4522151, Westlake, Ohio], based on disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Shoop worked for Stifel Independent Advisors LLC from October 15, 2021, to January 17, 2024, and from July 6, 2022, to January 17, 2024, and he also worked for Westminster Financial Securities Inc. from May 16, 2012, to October 22, 2021, before registering again with Westminster Financial Securities Inc. and Westminster Financial Advisory Corp on January 10, 2024. Keep reading to discover more about Shoop’s disclosures, including the allegations clients raised and how these matters were resolved.

Stifel Independent Advisors Investor Accused Shoop Of Misrepresentation

Notably, on January 12, 2024, a Stifel Independent Advisors LLC client filed a complaint about Ryan Shoop. Mainly, the client alleged that Shoop engaged in unauthorized trading and made misrepresentations by allegedly describing the wrong type of account and placing the client into a high risk investment strategy. Because of this, the client allegedly experienced damages relating to stocks. Therefore, the client requested compensation from Stifel Independent Advisors LLC or Shoop.

Ryan Shoop Disclosed Churning Allegations By Westminster Financial Securities Client

Particularly, a client of Westminster Financial Securities Inc. disputed Ryan Shoop’s sales practices by filing FINRA Arbitration No. 23-02591. Allegedly, Shoop churned accounts and Westminster Financial Securities Inc. failed to supervise certain representatives, and the client also claimed the account’s gains lagged certain market indices. It appears that Shoop caused the client to experience damages. As a result, Westminster Financial Securities Inc. opted to settle the matter on August 19, 2024, by compensating the client in the amount of $14,500.

Wachovia Securities Investor Accused Shoop Of Misrepresentation

Specifically, on October 11, 2008, a Wachovia Securities LLC client filed a complaint about Ryan Shoop. Primarily, the client alleged that Shoop made misrepresentations regarding a variable annuity purchase, including claims the client did not have a chance to ask questions or select investments and was allegedly assured the principal was guaranteed. For this reason, the client allegedly sustained damages linked to variable annuities. Consequently, the client requested $162,066.69 in compensation from Wachovia Securities LLC or Shoop. However, the firm denied this complaint.

Did You Sustain Losses Because Of Securities Broker / Financial Advisor Ryan Shoop?

Do you have concerns or questions regarding investments you made with Ryan Shoop? If so, reach out to Soreide Law Group online or at (888) 760-6552 and consult with a securities attorney regarding a possible recovery of your investment losses. Soreide Law Group has recovered losses for clients located throughout the country. Also, the firm works on a contingency fee basis and advances all costs. Shoop and brokerage firms Shoop worked for deny allegations of sales practice violations.