Haselkorn & Thibaut, a national law firm devoted exclusively to representing investors, has opened an investigation into John Robert Openshaw (CRD# 2306112), formerly of KCD Financial, Inc. in Wisconsin and California. If you invested through John Openshaw or have questions about your accounts, now is the time to learn more about his history and what you can do to protect your interests. Our attorneys, with over 50 years of experience and a 98% recovery rate, offer free consultations and work on a “no recovery, no fee” basis. Call us today at 1-888-885-7162 for unbiased guidance tailored to your circumstances.
Overview: Who is John Robert Openshaw?
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John Robert Openshaw is a formerly registered broker and investment advisor with a 23-year history in the securities industry. Most recently, he was affiliated with KCD Financial, Inc. in Wisconsin as a broker and in California as an investment advisor until November 2020. Over his career, he worked with a total of eight different firms and is no longer licensed or registered to offer investment advice.
Given a record that spans more than two decades, what stands out most is the high number of client complaints and regulatory disclosures—14 in total—on his record, far exceeding the industry norm for financial professionals. This track record raises significant concerns for potential investors and former clients alike.
Key Red Flags and Disclosures
The following is an in-depth summary of customer complaints and disclosures linked to John Robert Openshaw:
| Date | Type | Status | Allegations / Details | Amount Claimed / Settlement |
|---|---|---|---|---|
| 11/11/2024 | Customer Dispute | Pending | Three purchases of REITS between 08/03/2018 and 02/19/2019. Client alleges unsuitable investments. | Claimed: $300,000 Settlement: Pending |
| 9/30/2019 & 3/4/2019 | Bankruptcy (Two separate filings) | Final | 2019 bankruptcy filings; one dismissed, one discharged under Chapter 7. | n/a |
| 1/8/2019 | Judgment/Lien | Final | Civil judgment for $16,482.94. Openshaw reported plan for repayment and removal of lien. | $16,482.94 |
| 11/15/2004 | Customer Dispute | Settled | Dispute regarding Telergy Inc. restricted stock—alleged involvement in sale/solicitation. | Claimed: $75,000 Settled: $75,000 |
| 1/1/2004 | Customer Dispute | Settled | Alleged failure to disclose material facts, misrepresentation, omissions, negligence, breach of fiduciary duty. | Claimed: $50,000 Settled: $34,000 |
| 6/27/2003 | Customer Dispute | Settled | Similar allegations as above; settled with three claimants in a confidential agreement. | Claimed: $190,000 Settled: $285,000 |
| 2002-2004 (various) | Six Additional Customer Disputes | Settled | Patterns of complaints for misrepresentation, negligence, omissions, and breach of fiduciary duty. | Settlement amounts not disclosed |
| 10/31/1984 | Criminal (Misdemeanor) | Final Disposition | Minor in possession of alcohol, use of false ID, and possession of controlled substance (resolved via diversion). | Fine: $115, Diversion Program |
Pattern of Customer Complaints
- High Frequency of Settlements: Between 2002 and 2004, Openshaw settled multiple customer disputes, including significant amounts: $285,000, $75,000, and $34,000—totaling nearly $400,000.
- Nature of Allegations: Many complaints referenced unsuitable recommendations, failure to disclose risks, material omissions or misrepresentation, and breach of fiduciary duty.
- Pending Complaint (2024): The most recent dispute involves allegations related to the sale of REITs (Real Estate Investment Trusts) and a claim of $300,000, which remains unresolved as of the report date.
- Financial Difficulties: Openshaw faced financial distress in 2019, including two bankruptcy cases (one discharged, one dismissed), and a civil judgment lien for over $16,000.
Employment History with Broker-Dealers
John Openshaw’s broker-dealer affiliations over his career include:
- KCD Financial, Inc. (Wisconsin: Broker, California: Investment Advisor), 2018-2020
- Lombard Securities Incorporated, 2015-2018
- Port Securities, Inc., 2016-2018
- Freedom Investors Corp., 2016-2017
- Newport Coast Securities, Inc., 2009-2016
- First Wall Street Corp., 1998-2004
- A. G. Edwards & Sons, Inc., 1995-1996
- Chatfield Dean & Co., Inc., 1993-1995
It is noteworthy that several of these firms report red flags or disclosures during Openshaw’s tenure, particularly at KCD Financial, Newport Coast Securities, and First Wall Street Corp.
What Does This Mean for Investors?
Thorough due diligence is critical for any investor considering financial professionals with multiple customer complaints or signs of repeated issues. Excessive or recurrent settlements, especially for similar allegations, can signal potential risk for clients.
If you previously worked with John Robert Openshaw in Wisconsin, California, or elsewhere, it is recommended to review your account activity and investment outcomes.
- Check your statements for any investments in REITs or other products that do not match your risk tolerance or investment objectives.
- Assess whether you received full disclosure of risks and costs prior to investment recommendations.
- Contact a qualified, independent attorney if you suspect you were not fairly treated or suffered unnecessary losses.
With Openshaw no longer active as a broker or investment advisor – and given the unresolved issues documented in public records – you may still have recovery options for prior losses.
Learn More or Take Action
For a free, confidential consultation regarding your investments with John Robert Openshaw or KCD Financial, Inc. in Wisconsin or California, reach out to the investor advocacy team at Haselkorn & Thibaut. Our team is actively investigating these matters nationwide.
Start your inquiry by calling 1-888-885-7162 or learn more about John Openshaw’s background on FINRA BrokerCheck. There is no cost and no obligation for our
