Investor Seeks $1 Million in Dispute with Steven Tann

Steven Tann (CRD #: 1589757), a broker registered with Wells Fargo Clearing Services, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on June 28, 2025. Investors may have also engaged his services through Wells Fargo Advisors. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On May 1, 2025, an investor alleged that Steven Tann recommended unsuitable investments from July 2021 to December 2022. The client seeks $1 million in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles describe investor characteristics, including:

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

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

Background Information

Steven Tann has passed the following exams:

• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• National Commodity Futures Examination – Series 3
• Uniform Combined State Law Examination – Series 66
• Uniform Securities Agent State Law Examination – Series 63

Steven Tann is a registered broker in 13 states and a registered investment adviser in California and Texas.

He has also worked for the following firms:

• J.P. Morgan Securities (CRD#:79)
• Morgan Stanley Smith Barney (CRD#:149777)
• Oppenheimer & Company (CRD#:630)
• E. F. Hutton & Company (CRD#:235)
• Bear, Stearns & Company (CRD#:79) 

Kurta Law Can Help

If you worked with Steven Tann 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 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.