Arbitration process

Dennis Shane McMillan (also known as Shane McMillan), of Englewood, Colorado, a stockbroker formerly registered with Arete Wealth Management, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $150,000.00 in damages founded on allegations that between November of 2016 and June of 2017, McMillan provided unsuitable recommendations to them regarding alternative investment transactions. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03605. The claim alleges that the customer sustained damages because of unsuitable investment advice by McMillan at Arete Wealth Management.

This is not the first time McMillan has been accused of sales practice violations by a customer of a securities broker dealer. FINRA Public Disclosure also shows that on June 22, 2015, a customer filed an investment related complaint concerning McMillan’s activities where they sought compensatory damages based upon accusations that when McMillan was associated with Cambridge Investment Research Inc., he did not roll over the customer’s death benefit from a variable annuity after the customer’s husband died.

McMillan has been registered as a stockbroker of Arete Wealth Management since January 25, 2016. He has been registered as an investment adviser representative of Arete Wealth Advisors LLC since May 18, 2018.