Stephen Nitz is Facing a Non-Traded REIT Dispute

Stephen Nitz (CRD #: 1298437), a broker registered with Steward Partners Investment Solutions, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on June 24, 2024. Details concerning this dispute are provided below. 

Investor Allegations 

On April 9, 2024, an investor alleged that Stephen Nitz offered poor tax advice regarding a non-spousal inheritance. The investor alleged he provided poor service regarding insufficient calculations of RMD amounts. The investor alleged a non-traded Real Estate Investment Trust (non-traded REIT). The investor alleged the non-traded REIT was inappropriate for his investment profile. The investor is seeking $50,000. 

What Are REITs?

Real estate investment trusts (REITs) allow investors to generate returns from a portfolio of real estate without being directly involved in property management. However, REITs tend to be illiquid, which makes them unsuitable for many investors. Non-traded REITs are especially risky because they are not traded on the public exchange, making them difficult or impossible to sell. 

Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Background Information 

Stephen Nitz has passed the following exams: 

• Series 66 Uniform Combined State Law Examination
• Series 63 Uniform Securities Agent State Law Examination 
• Series 52TO Municipal Securities Representative 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination
• Series 53 Municipal Securities Principal Examination  
• Series 24 General Securities Representative Examination 

He is a registered broker in 24 states and is a registered investment adviser in Connecticut. 

During his 37 years of experience, Stephen Nitz has registered with 12 firms. These are the five most recent: 

• Steward Partners Investment Solutions (CRD #: 1254) 
• Steward Partners Investment Advisory (CRD #: 283004) 
• Osaic Institutions (CRD #: 35371) 
• Capital Brokerage Corporation (CRD #: 10465) 
• Hartford Equity Sales Company (CRD #: 6604) 

Kurta Law Can Help 

If you have worked with Stephen Nitz 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.