Matthew Shane Jacksteit (CRD #5993702) Has a Customer Dispute Disclosure on FINRA BrokerCheck

Matthew Shane Jacksteit (CRD #5993702) is a broker with a customer dispute on FINRA BrokerCheck. We reviewed his BrokerCheck report on March 12, 2026. It reflects one customer dispute. If you invested with Matthew Shane Jacksteit and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Matthew Jacksteit’s FINRA BrokerCheck report reflects one customer dispute disclosure. A summary of the dispute is below:

On January 22, 2026, a customer alleged Matthew Jacksteit made unsuitable recommendations and misrepresentations and caused financial and tax harm. Matthew Jacksteit’s FINRA BrokerCheck report lists the product type as managed/wrap accounts (in house). The complaint was denied on February 18, 2026. BrokerCheck states the firm made a good-faith determination that the alleged damages exceeded $5,000.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a broker to have a reasonable basis for a recommendation. It also requires the recommendation to fit the customer’s profile, including risk tolerance, tax status, and investment goals. A dispute over unsuitable recommendations may raise questions under this rule.

Rule Summary #2: FINRA Rule 2210 (Communications with the Public)

FINRA Rule 2210 requires communications with the public to be fair and balanced. It bars statements that omit facts in a way that makes the communication misleading. A dispute that alleges misrepresentations can raise issues under this rule.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Matthew Jacksteit:

Is currently registered with Edward Jones.

Has passed the Securities Industry Essentials (SIE) exam. Matthew Jacksteit has also passed Series 7 and Series 66.

BrokerCheck also shows that Matthew Jacksteit reported the Certified Financial Planner designation.

Kurta Law Can Help

If you have worked with Matthew Jacksteit and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unsuitable Investments | Securities Attorney

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.