Steven Bergmann Allegedly Recommended an Unsuitable Investment

Steven Bergmann (CRD #: 1525281), a broker registered with LPL Financial, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on June 10, 2024. Keep reading if you have questions concerning his alleged conduct. 

Investor Allegations 

On May 2, 2024, an investor alleged that Steven Bergman recommended unsuitable investments for his risk tolerance. 

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 

Steven Bergman 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 24 General Securities Representative Examination 

He is a registered broker in 28 states and is a registered investment adviser in Illinois and Texas. 

During his 37 years of experience, Steven Bergman has registered with three firms: 

• LPL Financial (CRD #: 6413) 
• AXA Advisors (CRD #: 6627) 
• The Equitable Life Assurance Society of the United States (CRD #: 4039) 

Kurta Law Can Help 

If you have worked with Steven Bergman 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.