Investors Name Steve Kerutis in Suitability Disputes

Steve Kerutis (CRD #: 2345517), a broker registered with LPL Financial, was the subject of a recent dispute, according to his BrokerCheck record, accessed on November 19, 2022. Keep reading if you have questions about his conduct as a broker.

Investor Disputes

In a dispute filed on August 15, 2022, an investor named Stephen Kerutis in a dispute alleging the unsuitability of an investment due to a lack of payouts from 2018-2022. This dispute was denied by the firm.

On June 25, 2015, multiple investors filed a dispute alleging that Stephen Kerutis failed to adhere to their investment objectives and that his “poor trading” and a lack of diversification in their accounts led to losses. The investors alleged this misconduct occurred between February 14, 2011, and June 15, 2015. The firm denied the dispute.

However, investors should be aware that firms can deny disputes without an outside review. Investors may be able to recoup their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must consider the information in an investor’s profile, such as their age, risk tolerance, and tax status when making recommendations.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

Background Information

Steve Kerutis has passed the following exams:

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

Steve Kerutis is a registered broker in seven states and a registered investment adviser in Tennessee.

He has also worked for the following firms:

• Truist Advisory Services (CRD#:283390)
• Truist Investment Services (CRD#:17499)
• BB&T Securities (CRD#:142785)
• BB&T Investment Services (CRD#:33856)
• Cetera Advisors (CRD#:10299)
• Wells Fargo Advisors Financial Network (CRD#:11025)
• Edward Jones (CRD#:250)

Kurta Law Can Help

If you worked with Steve Kerutis and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.