Erez Law is currently investigating Stonex Securities Inc. broker Brent Nelson (CRD# 3026585) regarding alternative investment losses. He has been registered with Stonex Securities Inc. in Youngstown, Ohio, since 2014, and Stonex Advisors Inc. in Youngstown, Ohio, since 2015. He was registered with Sterne Agee Investment Advisor Services, Inc. in Youngstown, Ohio, from 2001 to 2015, WRP Investments, Inc. in Youngstown, Ohio, from 2001 to 2014, IAR Securities Corp. in New York, New York, from 2000 to 2001, AC Financial, Inc. in Palm Harbor, Florida, from 1999 to 2000, when he was terminated regarding, “AC Financial is conducting an internal review regarding allegations set forth by their clearing agent.” He was registered with Fairchild Financial Group, Inc. in New York, New York, from 1998 to 1999, when he was terminated regarding, “Brent Nelson is under internal review for theft ofm company records.”
In December 2001, the National Association of Securities Dealers, Inc. suspended him for 30 days and sanctioned him to pay disgorgement of $14,500, representing commissions. It was found that he “sold shares of initial public offerings (IPOs) to public customers and in connection with the sale of alleged shares of IPOs, nelson negligently misrepresented that the firm offering the IPOs had acquired these shares through agreements with member firms when in fact there were no agreements with these firms and the shares in the IPOs were never acquired.”
In June 2002, the state of Illinois revoked his registration as a salesperson.
In May 2007, the State of Ohio Dept Of Commerce Division of Securities opened an investigation, regarding: “suspension of Ohio Securites & Investment Adviser License. Notice of intent to revoke Ohio Securites & Investment Adv License, which was stayed by Court of Common Pleas Trumbull county order dtd 5/27/07.”
Brent Nelson Customer Complaints
He has been the subject of two customer complaints between 2001 and 2024, according to his CRD report. The most recent complaint was regarding:
August 2024. “Claimant alleges respondent sold high-commission, complex, risky alternative investment and illiquid investment products causing significant decrease in the value of invested principal.” The customer is seeking $180,000 in damages, and the case is currently pending. The complaint was regarding variable annuities, real estate securities, and non-traded REITs. The complaint took place while he was registered with Stonex Securities Inc. and WRP Investments, Inc.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Stonex Securities Inc. may be liable for investment or other losses suffered by Brent Nelson’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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