Steve Wedel is Facing a Suitability Dispute

Steve Wedel (CRD #: 1221992), a broker registered with Private Client Services, is the subject of his third investor dispute. This is according to his BrokerCheck record, accessed on June 11, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On May 2, 2024, an investor alleged that Steve Wedel recommended unsuitable investments in light of the investor’s financial objectives and risk tolerance. 

There are two other investor disputes, also alleging he recommended unsuitable investments, that were collectively settled for $253,000. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information 

Steve Wedel 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 31 Futures Managed Funds Examination 
• Series 7 General Securities Representative Examination  
• Series 22 Direct Participation Programs Representative Examination 
• Series 6 Investment Company Products/Variable Contracts Representative Examination 
• Series 51 Municipal Fund Securities Principal Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker in 24 states and D.C. He is a registered investment adviser in Florida and Texas. 

During his 40 years of experience, Steve Wedel has registered with six firms: 

• Private Client Services (CRD #: 120222) 
• RFG Advisory (CRD #: 158401) 
• LPL Financial (CRD #: 6413) 
• Veravest Investment Advisors (CRD #: 105796) 
• Veravest Investments (CRD #: 3960) 
• First Investors Corporation (CRD #: 305)  

Kurta Law Can Help 

If you have worked with Steve Wedel 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 toda