Financial Advisor Cody Keller Barred by FINRA

• April 16, 2025
• MML Investors Services

Cody Keller (CRD#: 6669454) is a registered investment advisor with Seaside Wealth Advisors, LLC in Mechanicsburg, PA.

Broker’s History

He entered the securities industry in 2017 and previously worked with Northwestern Mutual Investment Services, LLC, and MML Investors Services, LLC.

Allegations of Misconduct

According to publicly available records released by the U.S Securities and Exchange Commission (SEC),in March 2025, without admitting or denying the findings, Keller consented to the sanction and to the entry of findings that he failed to provide information and documents requested by FINRA in connection with its investigation into the circumstances giving rise to the Form U5s filed by his member firms. The findings stated that one of the firms permitted Keller to resign after it discovered that he paid a customer from his personal bank account in what appeared to be an attempt to avoid a customer complaint, engaged in an undisclosed and unapproved OBA, and did not provide factual responses when asked about his actions and activities. The second firm discharged Keller for failing to disclose a regulatory action with the state of Pennsylvania on his U4.

As a result, Respondent also consents to the imposition of the following sanctions:

• a bar from associating with any FINRA member in all capacities.

For a copy of the FINRA disciplinary details, click here.

In addition, Cody Keller has been the subject of four other disclosures:

• September 2024—Discharged by MML Investors Services, LLC, “Registered Representative failed to disclose a regulatory action with the state of Pennsylvania on his U-4.”
• April 2024—Sanctioned with Cease and Desist and $1000 Fine, “ Registered Representative violated PA statutes Pennsylvania polices by misrepresenting the benefits, advantages, conditions or terms of insurance policy and making, issuing, publishing or circulating untrue, deceptive or misleading advertisement, announcement or statement.”
• November 2023—“ Customer stated that he is disappointed in the performance of his variable life insurance policy and believes the policy is a “scam” and a “rip off”.” The damage amount requested was $5,410 and the customer dispute was closed-no action.
• August 2023— Permitted to resign from Northwestern Mutual Investment Services, LLC, “Registered Representative was permitted to resign after the Firm discovered that he paid a customer from his personal bank account in what appeared to be an attempt to avoid a customer complaint, an offense for which he was previously reprimanded. The Registered Representative also engaged in an undisclosed and unapproved Outside Business Activity. Lastly, the Registered Representative did not provide factual responses when asked about his actions and activities.

For a copy of Cody Keller’s SEC AdvisorInfo, click here.

We Help Investors Recover Investment Losses

Pursuant to FINRA Rule 3270, outside business activities in which Financial Advisors become involved must be disclosed.  FINRA Rule 3280 prohibits Financial Advisors from engaging in Private Securities Transactions, which are securities transactions that take place away from the employing brokerage firm.  The purpose of these rules is to ensure that Financial Advisors do not engage in selling away.  The Financial Industry Regulatory Authority (FINRA) strictly prohibits financial advisors from “selling away” or selling securities and investments to clients that are not offered by the brokerage firm with which they are employed. For example, it is illegal and a violation of industry rules for a financial advisor to recommend or even suggest that a client invest in the financial advisor’s own business or a business operated by his or her friends or family. It is not necessary that the financial advisor earn any compensation for recommending an outside investment.

The purpose behind this prohibition is to ensure that a financial advisor only offers to sell securities that have been vetted by his or her employer brokerage firm through a rigorous due diligence process. Most brokerage firms have an approved list of investments, products, and research that can be provided or made available to clients. Any deviation by the financial advisor from the approved product list may constitute selling away.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

Reasonable basis suitability requires that a recommended investment or investment strategy be suitable or appropriate for at least some investors. Reasonable basis suitability requires an advisor to conduct adequate due diligence so that he or she can determine the risks and rewards of the investment or investment strategy.

Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation.

Customer-specific suitability requires that a member or associated person have a reasonable basis to believe that the recommendation is suitable for a particular customer based on that customer’s investment profile. Among the criteria that a financial advisor must evaluate to satisfy his or her customer-specific suitability obligations include the investor’s age, tax status, time horizon, liquidity needs, and risk tolerance; a client’s other investments, financial situation and needs, investment objectives, and any other information disclosed by the customer should also be considered.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.