March, 2025 | Milpitas, CA
Have questions about your investments with Antoine Devon Shamlee? Take the first step toward protecting your financial future. Call 800-950-6553 or complete our online form to schedule your no-obligation case evaluation with an experienced securities fraud attorney today.
Essential Details About Antoine Devon Shamlee
- Full Name: Antoine Devon Shamlee
- CRD Number: 4750442
- Current Location: Milpitas, CA
- Current Employer: NI Advisors
- Office Address: 1138 Cadillac Court, Milpitas, CA 95035
- Registration Status: Currently registered with FINRA and licensed in 4 states
- State Licenses: Arizona, California, New Jersey, Washington
- Experience: In the securities industry since February 2005
- FINRA BrokerCheck: Two customer disputes (both settled)
- Previous Employers: Newbridge Securities Corporation (06/2016-10/2023), Caldwell International Securities (07/2013-05/2016), Meyers Associates, L.P. (10/2012-06/2013), and six other firms since 2005
- Other Business Activities: Operates Orion Wealth International as CEO & Principal; also involved in BroBro (apparel sales) as Partner & Consultant
- Ability to Recover Losses: FINRA arbitration may be possible for affected investors
The Troubling Pattern Behind Antoine Devon Shamlee’s Investment Practices
Financial advisor Antoine Devon Shamlee (CRD# 4750442) recently joined NI Advisors in February 2025 after a concerning history of customer disputes and frequent firm changes throughout his career. Our securities fraud attorneys are investigating Shamlee’s investment practices, particularly focusing on his handling of alternative investments and unauthorized trading allegations that have resulted in significant settlements with former clients.
Shamlee’s professional background raises several red flags that should concern investors. Since entering the securities industry in 2005, he has worked at nine different brokerage firms, with none of these positions lasting more than seven years. This pattern of frequent movement between firms often indicates potential compliance issues or customer complaints that prompt broker departures. Most recently, Shamlee was registered with Newbridge Securities Corporation from 2016 until October 2023, followed by a 16-month gap before joining NI Advisors.
Detailed Case Analysis: Settled Customer Disputes
Recent Alternative Investments Dispute (2023)
According to FINRA records, Shamlee was named in a serious customer complaint filed in January 2023 while he was affiliated with Newbridge Securities Corporation. The complaint alleged:
- Failure to supervise
- Respondeat superior (a legal doctrine holding employers accountable for employee actions)
- Negligence
- Breach of contract
- Violation of industry rules
The dispute involved alternative investments, a category often associated with higher risk, lower liquidity, and complex structures that may not be suitable for all investors. The client sought $224,462 in damages, suggesting substantial losses. On September 29, 2023, the matter was settled for $150,000, with Newbridge Securities Corporation covering the entire settlement amount.
The timing of this settlement closely aligns with Shamlee’s departure from Newbridge Securities Corporation in October 2023, raising questions about whether the dispute was a factor in his exit from the firm.
Unauthorized Trading Allegations (2006-2007)
Shamlee’s regulatory history also includes an earlier customer dispute from December 2006 during his time at S.W. Bach & Company. This complaint alleged unauthorized trades in Apple Computer stock and related options transactions between November 14, 2006, and December 21, 2006. The client sought $30,000 in damages.
This case progressed to FINRA arbitration (then called NASD, case #07 01104) and was ultimately settled in October 2009 for $14,000. Unlike the more recent complaint, Shamlee personally paid the entire settlement amount in this case.
Notably, Shamlee provided a broker statement claiming the client later realized “the broker was correct in his original strategy/recommendation and the position in question over performed initial targets.” However, this does not negate the seriousness of unauthorized trading allegations, as trading without proper authorization violates fundamental securities industry rules regardless of the investment outcome.
Historical Analysis: A Career Marked by Frequent Firm Changes
Antoine Shamlee’s employment history reveals a concerning pattern of frequent moves between brokerage firms:
- Joseph Stevens & Company (02/2005 – 07/2005) – Brooklyn, NY
- S.W. Bach & Company (07/2005 – 01/2007) – New York, NY
- Reid & Rudiger LLC (02/2007 – 07/2007) – New York, NY
- Emerald Investments, Inc. (06/2007 – 03/2008) – New York, NY
- Mercer Capital Ltd. (02/2008 – 01/2010) – New York, NY
- Buckman, Buckman & Reid, Inc. (01/2010 – 10/2012) – New York, NY
- Meyers Associates, L.P. (10/2012 – 06/2013) – New York, NY
- Caldwell International Securities (07/2013 – 05/2016) – Nassau, Bahamas
- Newbridge Securities Corporation (06/2016 – 10/2023) – Boca Raton, FL
- NI Advisors (02/2025 – Present) – Milpitas, CA
This pattern of moving between nine firms in a 20-year career is substantially higher than industry norms and warrants scrutiny. Many of these firms are smaller broker-dealers, some of which have faced their own regulatory issues. Several of Shamlee’s former employers are no longer in business.
Additionally, Shamlee operates “Orion Wealth International” as a DBA (doing business as) entity, where he serves as CEO & Principal. FINRA records indicate he spends 240 hours per month on this business—an extraordinarily high number that raises questions about time management and potential conflicts of interest. He is also registered as an insurance agent selling insurance and annuity products, reportedly spending 60% of his time on these activities.
Professional Qualifications and Current Registration Status
Shamlee holds several securities industry qualifications:
- General Securities Principal Examination (Series 24) – passed on 12/07/2015
- Securities Industry Essentials Examination (SIE) – passed on 10/01/2018
- General Securities Representative Examination (Series 7) – passed on 02/14/2005
- Uniform Securities Agent State Law Examination (Series 63) – passed on 02/28/2005
He is currently registered as both a General Securities Principal and General Securities Representative with FINRA through NI Advisors. His state registrations include Arizona, California, New Jersey, and Washington, all of which became effective in February or March 2025.
Despite his lengthy career, FINRA records indicate Shamlee has not obtained any professional designations such as Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA), which would indicate additional education and commitment to professional standards.
Red Flags and Warning Signs for Investors
Shamlee’s regulatory history and career path exhibit several concerning patterns that investors should be aware of:
1. Multiple Customer Disputes
Two settled disputes—particularly the substantial $150,000 settlement in 2023—suggest potentially serious sales practice violations. The pattern of complaints, though limited in number, covers both unauthorized trading and issues with alternative investments.
2. Frequent Firm Changes
Nine different employers over a 20-year career indicates potential issues with compliance, supervision, or client satisfaction. Reputable financial advisors typically maintain longer tenures at their firms.
3. Unexplained Employment Gap
After leaving Newbridge Securities in October 2023, Shamlee did not register with another broker-dealer until February 2025—a 16-month gap that coincided with the settlement of a significant customer dispute.
4. Multiple Business Activities
Shamlee reports spending 240 hours monthly on Orion Wealth International activities while simultaneously working as a registered representative and insurance agent. This extraordinary time commitment raises questions about adequate attention to client accounts.
5. Alternative Investment Sales Practices
The most recent dispute involved alternative investments, which often come with higher commissions for advisors but greater risks and less liquidity for investors. These products require especially careful suitability analysis and disclosure.
6. Employment at Smaller, Less Established Firms
Many of Shamlee’s employers have been smaller broker-dealers, some of which are no longer in business. While not necessarily problematic on its own, this pattern sometimes indicates a broker who has difficulty obtaining or maintaining employment at larger, more established firms with stricter compliance programs.
Legal and Regulatory Framework: Securities Violations
Investors working with any financial advisor should understand the legal protections in place. Based on the disclosed customer disputes involving Shamlee, several potential regulatory violations may be relevant:
Unauthorized Trading (FINRA Rule 2010, 2020)
Financial advisors must have proper authorization before executing trades in a client’s account. The 2006 complaint against Shamlee specifically alleged unauthorized trades in Apple stock and options. Unauthorized trading violates FINRA Rule 2010 (requiring high standards of commercial honor) and potentially Rule 2020 (prohibiting manipulation, deception, or fraud).
Suitability and Best Interest Obligations (FINRA Rule 2111, Reg BI)
Financial advisors must recommend only securities and investment strategies that are suitable for their clients based on factors like investment objectives, risk tolerance, financial situation, and needs. The more recent complaint involving alternative investments raises questions about suitability determinations, particularly given the complex nature of many alternative investments.
Under the SEC’s Regulation Best Interest (Reg BI), which took effect in June 2020, broker-dealers must act in the best interest of retail customers when making recommendations, including recommendations of alternative investments.
Supervision Requirements (FINRA Rule 3110)
Brokerage firms must establish and maintain a supervisory system to ensure compliance with securities laws and regulations. The “failure to supervise” allegation in the 2023 complaint suggests potential deficiencies in Newbridge Securities’ oversight of Shamlee’s activities.
Disclosure Obligations
Advisors must provide full and fair disclosure of all material facts related to investment recommendations, including risks, fees, and potential conflicts of interest. Alternative investments often require enhanced disclosures due to their complex structures and risks.
Guidance for Investors Who Worked with Antoine Devon Shamlee
If you’ve worked with Antoine Shamlee and have concerns about your investments, consider taking these important steps:
1. Review Your Account Statements
Carefully examine your account statements for any unauthorized transactions, excessive trading, or investments that don’t align with your stated objectives and risk tolerance. Pay particular attention to alternative investments or complex products.
2. Assess Performance Against Benchmarks
Compare the performance of your investments against appropriate market benchmarks. Significant underperformance may indicate unsuitable recommendations or mismanagement.
3. Evaluate Fees and Commissions
Review the fees and commissions you’ve paid. Alternative investments often carry high commissions, which can create conflicts of interest for advisors recommending these products.
4. Document All Communications
Gather and organize all communications with Shamlee, including emails, letters, account statements, and notes from meetings or phone calls. These records can be crucial evidence in any potential claim.
5. Understand the Statute of Limitations
Be aware that FINRA arbitration claims generally must be filed within six years of the event giving rise to the claim. However, other limitations may apply depending on the specific circumstances, so promptly consulting with an attorney is advisable.
6. Consider Professional Legal Consultation
If you identify concerning issues, consult with an attorney specializing in securities fraud and broker misconduct. Our firm offers free, confidential consultations to evaluate potential claims.
How Our Investment Fraud Attorneys Can Help
Our securities fraud law firm specializes in representing investors who have suffered losses due to broker misconduct. If you’ve worked with Antoine Devon Shamlee and experienced investment losses, our team offers:
Comprehensive Case Evaluation
Our experienced attorneys will thoroughly review your investment history, account documentation, and communications to identify potential violations and assess the strength of your case.
FINRA Arbitration Representation
Most disputes with brokers must be resolved through FINRA arbitration rather than court litigation. Our attorneys have extensive experience navigating this specialized forum and presenting compelling cases before arbitrators.
Expertise in Alternative Investments Cases
Given Shamlee’s history with alternative investment complaints, our team’s specific expertise in these complex products can be particularly valuable in evaluating your situation and developing an effective recovery strategy.
No Recovery, No Fee Structure
We typically work on a contingency fee basis, meaning you pay legal fees only if we recover money on your behalf. This alignment of interests ensures we are motivated to pursue the best possible outcome for every client.
Investigation of Related Entities
In addition to claims against individual brokers, we investigate potential claims against their employing brokerage firms under theories of negligent supervision or vicarious liability.
If you’ve invested with Antoine Devon Shamlee and have questions or concerns about your accounts, don’t wait to seek professional assistance. The statute of limitations continues to run, and addressing these issues promptly gives you the best chance of recovery.
Need answers about your investments with Antoine Devon Shamlee? Call 800-950-6553 today or complete our secure online form for a confidential, no-obligation consultation. Our experienced investment fraud attorneys are ready to review your situation and help you understand your options for potential recovery.
