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Investor Alleges Steven Standley GWG Recommendation Led to Six-Figure Loss

Steven Standley (CRD #: 4282051), a broker registered with D.H. Hill Securities, is involved in a pending investor dispute, according to his BrokerCheck record, accessed on September 25, 2022. Investors may have also engaged his services through D.H. Hill Advisors. If you want to learn more about his conduct as a broker, keep reading.

Investor Dispute

On August 9, 2022, an investor alleged that Steven Standley recommended unsuitable GWG L Bonds in November 2019. GWG Holdings has since filed for bankruptcy. The client also made the following allegations:

  • Violations of securities laws
  • Common law fraud
  • Failure to conduct reasonable due diligence
  • Negligence
  • Breach of contract

The client seeks $190,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles describe investors’ risk tolerance, age, investment goals, and other information.

What is broker negligence?

Brokers can act negligently in a number of ways. Negligent conduct can include omissions or misrepresentations of fact, unsuitable investment recommendations, and failure to supervise. Investors who believe their losses were caused by broker negligence may be able to recover their funds by seeking out FINRA arbitration.

Background Information

Steven Standley 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 6 – Investment Company Products/Variable Contracts Representative Examination

Steven Standley is a registered broker and a registered investment adviser in Tennessee.

He has also worked for the following firms:

  • OneAmerica Securities (CRD#:4173)
  • American United Life Insurance Company (CRD#:1075)
  • Legacy Financial Services (CRD#:38697)

Kurta Law Can Help

If you worked with Steven Standley 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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