Tally Drew Lykins – Money Concepts Capital Corp. (Columbus, IN): Haselkorn & Thibaut Opens Investigation
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Haselkorn & Thibaut, a national investment fraud law firm, has launched an independent investigation into Tally Drew Lykins, a financial advisor registered with Money Concepts Capital Corp. in Columbus, Indiana. If you have questions about your investments managed by Mr. Lykins, we encourage you to read this report carefully and reach out for a free, confidential consultation at 1-888-994-8066. Protecting your financial future is our top priority.
Who Is Tally Drew Lykins?
- Name: Tally Drew Lykins
- CRD Number: 2439455 (Check BrokerCheck)
- Office: 3550 West Two Mile Rd., Suite A, Columbus, IN 47201
- Current Affiliation: Money Concepts Capital Corp. (Broker-dealer) and Money Concepts Advisory Service (Investment adviser)
- Active Since: January 2023 with Money Concepts Capital Corp.; April 2023 with Money Concepts Advisory Service
- Licenses: SIE, Series 6, Series 63
- Also Associated With: JCD Investments, Azalia Elevator, Inc., and provides pro bono legal services in Vernon, IN
Background and Experience
Mr. Lykins brings decades of experience in the financial services industry, with prior tenures at Grove Point Investments, JCD Investments, Woodbury Financial Services, AXA Advisors, and The Equitable Life Assurance Society. His broad background covers both investment advisory and broker-dealer roles. However, as with any advisor, performing due diligence is essential to ensure that your assets are protected from risk, negligence, or potential misconduct.
Recent Customer Dispute and Allegation Details
Why are investors concerned? On July 28, 2025, a pending FINRA arbitration case (Indianapolis, IN – FINRA Case No. 25-01527) was filed, alleging:
- Negligence
- Breach of Contract
- Negligent Misrepresentation
- Violations of State & Federal Securities Laws
- Elder Abuse related to DST (Delaware Statutory Trust) investments
The claim seeks a complete return of investment plus compensatory, punitive and treble damages, as well as legal fees and related expenses. The specific dollar amount has not yet been disclosed.
This case, initiated by the personal representatives of a deceased customer’s estate, brings specific attention to both alleged product risk (DSTs are often complex and not suitable for all investors) and suitability, particularly in the context of senior investors.
Regulatory History and Red Flags
| Date | Event / Action | Description |
|---|---|---|
| 03/23/2009 | Indiana Consent Order | Allegations of “selling away” and involvement in unregistered securities outside his associated firm (Woodbury Financial Services). Mr. Lykins agreed to pay $40,000 in restitution to an affected purchaser related to Netwirth Communications LLC shares. |
| 06/17/2025 | IRS Tax Lien | Outstanding federal tax lien for $81,431 |
| 01/30/2020 | IRS Tax Lien | Outstanding federal tax lien for $114,920 |
Summary of BrokerCheck and Litigation Review (As of June 2024)
Our research revealed the following:
- No customer dispute disclosures
- No previous arbitrations (pending or settled) before July 2025
- No regulatory actions beyond the 2009 Indiana consent order
- No SEC enforcement proceedings
- No bankruptcy filings
- No criminal disclosures
For a current overview of Mr. Lykins’ registration and disclosures, investors should refer to the official FINRA BrokerCheck system.
What Is a Delaware Statutory Trust (DST) and Why Should Investors Be Cautious?
Delaware Statutory Trusts are complex real estate investment vehicles frequently offered as 1031 exchange alternatives. These investments may carry higher risks, are often illiquid, and can be unsuitable for those seeking conservative or income-focused portfolios, especially seniors or those unfamiliar with commercial real estate products. Suitability and risk tolerance are paramount considerations—be sure your advisor fully explained these products and documented your risk profile before investing.
Red Flags & Investor Considerations
- Outstanding IRS Tax Liens may indicate significant financial or compliance challenges.
- Prior Regulatory Settlements for undisclosed outside business activity is a relevant data point for due diligence.
- Any pending arbitration alleging elder abuse, misrepresentation, or suitability violations should prompt investors to review their own accounts and investment history with this advisor.
- Firm Supervision: Broker/dealers and registered investment advisors are responsible for preventing “selling away” and ensuring all sales match the investor’s goals and needs — problems here could signal ongoing risk to investors.
Your Next Steps: Should You Be Concerned If You Invested With Tally Drew Lykins at Money Concepts Capital Corp.?
If you have experienced unexpected losses, were sold complex products like DSTs without a clear explanation, or simply wish to ensure your accounts have been handled appropriately, we encourage you to get answers today. Haselkorn & Thibaut’s experienced attorneys have recovered millions for investors facing negligence, fraud, or unsuitability with investment advisors nationwide.
We invite you to reach out for a free, no-risk consultation with our team. There are no fees unless you recover and your privacy is always protected. Our firm stands out with:
- 50+ years combined experience in investment loss recovery
- 98% client success rate
- Millions recovered for harmed investors
Worried about your account? Don’t wait—contact Haselkorn & Thibaut at 1-888-994-8066 today to discuss your situation or get a complimentary portfolio review.
Your financial security is too important to leave to chance. Our attorneys are ready to help you determine if mismanagement or advisor errors may have impacted your investments. Take the first step toward protecting your future—schedule your free, confidential consultation now.
