Stephen Mattocks Facing a REIT Dispute

Stephen Mattocks (CRD #: 2193216), a broker registered with Osaic Wealth, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on September 13, 2025. Keep reading for more information about his alleged conduct as a broker. 

Investor Allegations 

On June 10, 2025, an investor alleged that Stephen Mattocks made unsuitable recommendations of real estate investment trusts (REITs) in 2014 and 2016. The client sought $118,679 in damages but the dispute was denied by the firm.

A dispute filed on August 3, 2024, alleged that Stephen Mattocks misrepresented a REIT. The dispute was also denied, but investors should know they can still recover losses by seeking out FINRA arbitration following a denial.

Unsuitable Investment Recommendations

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must take into account an investor’s tax status, risk tolerance, age, and other information described in their profile.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

Misrepresentation 

FINRA Rule 2020 prohibits the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

What are REITs?

A real estate investment trust (REIT) allows investors to pool their funds together in a portfolio of real estate and earn returns without the responsibility of managing the properties themselves. 

However, the lack of liquidity associated with REITs may make them unsuitable for some investors.

Background Information 

Stephen Mattocks has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination
• Series 6 Investment Company Products/ Variable Contracts Representative Examination 

He is a registered broker in ten states and is a registered investment adviser in Kansas, Missouri, Oklahoma, and Texas. 

Stephen Mattocks has registered with eight firms:

• Osaic Wealth (CRD #: 23131) 
• Sagepoint Financial (CRD #: 133763) 
• SunAmerica Securities (CRD #: 20068) 
• Next Financial Group (CRD #: 46214) 
• New England Securities (CRD#:615)
• NationsBanc Investments (CRD#:16361)
• NationsSecurities (CRD#:32542)
• MML Investors Services (CRD#:10409) 

Kurta Law Can Help 

If you worked with Stephen Mattocks and you 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.