Haselkorn & Thibaut has opened an investigation into Columbus, Indiana financial advisor Tally Lykins and his activities at Money Concepts Capital Corporation following recent investor complaints. With over 50 years of experience and a 98% success rate, our national investment fraud law firm is committed to helping investors understand their rights and options.
Understanding the Recent Complaint Against Tally Lykins
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If you’re an investor who has worked with Tally Lykins (CRD# 2439455), you should be aware of a significant complaint filed in August 2025. The complaint, which appears on his BrokerCheck report, raises several serious concerns that deserve your attention.
The pending complaint alleges that Mr. Lykins, while representing Money Concepts Capital Corporation, engaged in multiple concerning behaviors including:
- Negligence in handling client investments
- Breach of contract obligations
- Negligent misrepresentation of material facts
- Violations of state and federal securities laws
- Elder abuse in connection with a Delaware Statutory Trust product
Red Flags Investors Should Consider
When evaluating whether you might have been affected by similar practices, consider these important warning signs:
| Red Flag | What It Means for You |
|---|---|
| Elder abuse allegations | Particularly concerning for senior investors or their family members |
| Delaware Statutory Trust involvement | Complex products that may not be suitable for all investors |
| Multiple violation types alleged | Suggests potential pattern of concerning practices |
Tally Lykins’ Professional Background at Money Concepts
Mr. Lykins brings 31 years of securities industry experience to his current roles as both a broker with Money Concepts Capital Corporation and an investment advisor with Money Concepts Advisory Service. His extensive career history includes registrations with several well-known firms:
- Grove Point Investments
- JCD Investments
- Woodbury Financial Services
- AXA Advisors
- Equitable Life Assurance Society of the United States
He holds multiple securities licenses, having passed the Series 63, SIE, and Series 6 examinations, and is licensed to operate in Indiana.
What This Means for Money Concepts Clients
If you’re a client of Tally Lykins at Money Concepts, this complaint raises important questions about your investments. The allegations of elder abuse are particularly concerning, especially if you or a loved one is a senior investor who may have been recommended complex or unsuitable products.
Delaware Statutory Trusts, mentioned in the complaint, are sophisticated investment vehicles that may carry significant risks. These products often involve:
- Limited liquidity – difficulty accessing your money when needed
- Complex fee structures that can erode returns
- Tax implications that may not be fully explained
- Suitability concerns for conservative or elderly investors
Your Rights as an Investor
Securities industry regulations exist to protect you. FINRA Rule 2020 specifically prohibits brokers from using manipulative or deceptive practices when recommending or executing trades. Additionally, FINRA Rule 2010 requires advisors to maintain high standards of commercial honor.
When these rules are violated, you have the right to seek recovery of your losses. This is especially important for elderly investors who may have been targeted with unsuitable investments or subjected to high-pressure sales tactics.
Steps You Can Take Today
If you’ve invested with Tally Lykins through Money Concepts Capital Corporation or Money Concepts Advisory Service, consider taking these actions:
- Review your account statements carefully for any unauthorized trades or excessive fees
- Document all communications with your advisor
- Gather information about any Delaware Statutory Trust or similar complex investments
- Consider whether recommendations were suitable for your age, risk tolerance, and financial goals
- Seek professional guidance to understand your options
Why Time Matters in Investment Fraud Cases
Securities claims have strict time limitations. The sooner you act, the better positioned you’ll be to protect your rights and potentially recover losses. This is particularly crucial given that the complaint against Mr. Lykins is still pending, meaning the full scope of affected investors may not yet be known.
How Haselkorn & Thibaut Can Help
With over 50 years of combined experience and a 98% success rate, Haselkorn & Thibaut has helped countless investors recover millions in losses. We understand the unique challenges facing investors who may have been misled or taken advantage of by their financial advisors.
Our team specializes in cases involving:
- Elder financial abuse
- Unsuitable investment recommendations
- Breach of fiduciary duty
- Complex product misrepresentations
We work on a contingency basis – no recovery, no fee – meaning you pay nothing unless we successfully recover compensation for your losses.
Get Your Free Consultation Today
Don’t wait to understand your rights. If you’ve invested with Tally Lykins at Money Concepts, you deserve to know whether you’ve been affected by the practices described in the recent complaint. Call Haselkorn & Thibaut today at 1-888-628-5590 for a free, confidential consultation. Our experienced attorneys will review your situation and help you understand your options for potential recovery. Remember, there’s no cost for this consultation, and you pay nothing unless we recover compensation for you.
