Shaun Stein Allegedly Engaged in Excessive Trading

Shaun Stein (CRD #: 4873578), a broker registered with B. Riley Wealth Management, is the subject of his third investor dispute. This disclosure appears on his BrokerCheck record, accessed on April 18, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On December 7, 2023, an investor alleged Shaun Stein executed excessive trading losses. The investor is seeking $722,528 in this dispute.  

Excessive Trading

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. Trades must be quantitatively suitable, meaning the number of trades must suit an investor’s needs. Each trade comes with a transaction fee, so too many transactions will result in excessive fees for the investor. Excessive trading is also known as “churning.” 

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. 

Background Information 

Shaun Stein has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 42 states and is a registered investment adviser in D.C. 

Shaun Stein has 19 years of experience. During that time, he has registered with six firms: 

• B. Riley Wealth Management (CRD #: 2543) 
• National Securities Corporation (CRD #: 7569) 
• Meyers Associates L.P. (CRD #: 34171) 
• Alexander Capital L.P. (CRD #: 40077) 
• J.P. Turner & Company (CRD #: 43177) 
• National Securities Corporation (CRD #: 7569) 
• Joseph Stevens & Company (CRD #: 35459) 

Kurta Law Can Help 

If you have worked with Shaun Stein and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.