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Steven Nielsen Allegedly Recommended a Risky and Unsuitable Investment

Steven Nielsen (CRD #: 4184826), a broker registered with Centaurus Financial, allegedly made an unsuitable investment recommendation, according to his BrokerCheck record, accessed on September 25, 2022. If you want to know more about his conduct as a broker, read on.

Investor Dispute

On August 4, 2022, an investor alleged that Steven Nielsen recommended an unsuitable, risky, and illiquid investment in the spring of 2020. The client seeks $100,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to fit investors’ profiles. An investor’s profile describes their age, risk tolerance, tax status, and other client characteristics.

Investors who rely on their brokers for recommendations may be able to recoup their losses by pursuing FINRA arbitration.

Background Information

Steven Nielsen has passed the following exams:

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

Steven Nielsen is a registered broker in 14 states and a registered investment adviser in 12 states.

He has also worked for the following firms:

  • DFPG Investments (CRD#:155576)
  • Diversify Wealth Management (CRD#:169032)
  • Madison Avenue Securities (CRD#:23224)
  • SII Investments (CRD#:2225)
  • Morgan Peabody (CRD#:38306)
  • Royal Alliance Associates (CRD#:23131)
  • 1717 Capital Management Company (CRD#:4082)
  • FFP Securities (CRD#:16337)
  • Mutual Service Corporation (CRD#:4806)
  • AXA Advisors (CRD#:6627)

Kurta Law Can Help

If you worked with Steven Nielsen 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. 

 

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