Haselkorn & Thibaut, a national investment fraud law firm, has launched an independent investigation into John Robert Openshaw (CRD# 2306112), a former financial advisor previously registered with KCD Financial, Inc. in Green Bay, Wisconsin. This report aims to provide investors in Wisconsin and California, as well as nationwide, with a clear view of Openshaw’s background, specifically his disclosure history and red flags that may impact investment decisions. If you have worked with John Openshaw or suffered investment losses, Haselkorn & Thibaut offers free, confidential consultations—call 1 888-885-7162 today. There is no fee unless we recover for you.
Summary Profile: John Openshaw, KCD Financial, Inc., Green Bay, WI
- Name: John Robert Openshaw
- CRD Number: 2306112
- Latest Broker-Dealer: KCD Financial, Inc. (Green Bay, WI)
- Former Investment Advisor (CA), Broker (WI)
- Years of Experience: 23 years across 8 firms
- Status: No longer registered
Key Risk Factors: Why Is John Openshaw Under Scrutiny?
There are several risk factors, both recent and historical, that have prompted an investigation into John Openshaw. Over his lengthy career, Openshaw amassed an unusually high number of customer disputes and other financial disclosures. These situations are often critical for investors considering prior advisors’ backgrounds and can play a pivotal role in loss recovery efforts.
Comprehensive List of Disclosures and Customer Complaints
Below is a detailed overview of all known disclosures, as reflected in regulatory filings and professional databases. Understanding the nature and frequency of these complaints is vital for assessing potential risk.
| Date | Status | Type | Allegations / Details | Damage Claimed | Settlement |
|---|---|---|---|---|---|
| 11/11/2024 | Pending | Customer Dispute | Three purchases of REITs alleged unsuitable by client | $300,000 | Pending |
| 09/30/2019 | Final | Bankruptcy | Bankruptcy filed and later dismissed | — | Dismissed |
| 03/04/2019 | Final | Bankruptcy | Chapter 7; discharged after voluntary reorganization attempt | — | Discharged |
| 01/08/2019 | Final | Judgment/Lien | Civil judgment/lien for $16,482.04 | $16,482 | Not specified |
| 11/15/2004 | Settled | Customer Dispute | Dispute over Telergy Inc. restricted stock sale/solicitation | $75,000 | $75,000 |
| 01/01/2004 | Settled | Customer Dispute | Allegations of nondisclosure, negligence, breach of fiduciary duty | $50,000 | $34,000 |
| 06/27/2003 | Settled | Customer Dispute | Misrepresentation, breach of fiduciary duty, negligence | $100,000 | $285,000 |
| 06/16/2003 | Settled | Customer Dispute | Suitability, misrepresentation, fraud, breach of contract | $200,000 | $92,500 |
| 05/25/2003 | Settled | Customer Dispute | Omissions, negligence, breach of fiduciary duty | $100,000 | $350,000 |
| 04/27/2003 | Settled | Customer Dispute | Material omissions, negligence | $90,900 | $150,000 |
| 11/05/2002 | Settled | Customer Dispute | Breaches: contract, fiduciary duty, malpractice, fraud | $150,000 | $56,000 |
| 06/26/2002 | Settled | Customer Dispute | Details not fully available | — | — |
| 01/26/2002 | Settled | Customer Dispute | Details not fully available | — | — |
| 10/31/1984 | Final | Criminal Matter | Minor offenses: alcohol and drug possession as a youth; diversion program completed | — | — |
Key Patterns and Takeaways for Investors
- 14 total disclosures: This includes 11 customer disputes, 2 bankruptcies, 1 civil judgment/lien, and 1 minor criminal matter dating to 1984.
- Over $1.4 million in settlements: Ten settled customer disputes between 2002 and 2004 represent a collective payout exceeding $1,040,000.
- Recurring Allegations: The themes across complaints revolve around alleged unsuitable recommendations, material misrepresentation or omission, breach of fiduciary duty, negligence, fraud, and breach of contract.
- Pending Dispute of $300,000 (2024): The most recent customer dispute involves allegations of unsuitable REIT purchases occurring in 2018-2019 while Openshaw was with KCD Financial, Inc.
- Financial difficulties: Two bankruptcy filings were initiated and a civil judgment was recorded in 2019.
- History of firm changes: Openshaw worked at 9 different firms, including Newport Coast Securities (which was expelled by FINRA in 2018) and First Wall Street Corp.
What Does This Mean for Investors?
A disclosure history with multiple customer complaints and significant settlements could signify recurring issues. Patterns of unsuitable recommendations or misrepresentation are especially notable if similar allegations surface more than once. While Openshaw’s criminal matter is dated and minor, and many customer complaints are over 15 years old, the existence of a recent, pending $300,000 customer dispute should attract additional attention from investors who might have worked with him or invested in similar products.
Red Flags to Watch For:
- Multiple, substantial customer complaint settlements over
Disclaimer: The information contained in any post on this website is derived from publicly available sources and is not guaranteed as to accuracy and often involves allegations which may or may not be proven at some point in the future. All posts are believed to be accurate as of the time of original posting, but the accuracy and details are subject to and expected to change over time and which may contain opinions of the author at the time posted.
