Advisor Alert: Our Attorneys Are Investigating Clayton K Shum For Investment Fraud
Did You Lose Money Because of Clayton Shum?
Filed: March 13, 2024
Clayton Shum (also known as Clayton Kwok Shum) has been the subject of one (1) customer complaint and two (2) termination events. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Clayton K Shum.
Who Is Clayton K Shum of Aegis Capital Corp.?
- Advisor Name: Clayton K Shum
- Aliases: Clayton K Shum, Clayton Kwok Shum
- CRD: 4412927
- Location: Burlingame, California and New York, New York
- Current Employer: Aegis Capital Corp.
- Previous Firms: Grove Point Advisors, LLC, Grove Point Investments, LLC, and H. Beck, Inc.
- Number of Known Customer Complaints: 1
- Number of Known Termination Events: 2
- Can Clayton Shum Be Sued: Yes, in Private Arbitration
- Can Clayton Shum’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $1,500,000
- Highest Settlement: $560,000
If you have suffered investment losses by Clayton Shum, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a churning lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Clayton Shum For Broker Misconduct
As of this publication date, Clayton Shum has been the subject of 1 customer dispute and 2 regulatory events. Let’s review them below.
In January 2023, Grove Point Investments, LLC terminated Clayton Shum for violating multiple Firm policies including a prohibition on arranging personal financing for securities clients, requirements to obtain appropriate variable annuity and seminar pre-approval, and proper reporting of customer complaints.
In September 2006, a NASD arbitration was filed against or in reference to Clayton Shum by a customer of NY Life and FMSI alleging that Mr. Shum may have had a conflict of interest and may have misappropriated certain assets of the trust. Per the customer, he/she lost over $1,500,000 because of Mr. Shum’s actions. On January 29, 2008, Mr. Shum settled the claim for $560,000, and some or all of this amount may have been paid by Mr. Shum’s employer and/or insurance carrier.
In April 2004, NYLife Securities Inc. terminated Clayton Shum for allegedly effecting the transfer of funds from their 401(k) to a variable annuity without the customer’s authorization.
How To File A Claim Against Clayton Shum of Aegis Capital Corp. (previously with Grove Point Advisors, LLC, Grove Point Investments, LLC, and H. Beck, Inc.) To Get Your Money Back
If you have questions about Clayton Shum, Aegis Capital Corp., Grove Point Advisors, LLC, Grove Point Investments, LLC, H. Beck, Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.