There are options for clients of Centaurus Financial, Inc. broker Scott Phillips (CRD# 1311907) who suffered investment losses due to corporate debt. He has been registered with Centaurus Financial, Inc. in Salt Lake City, Utah, since 2007.
He was registered with 11 additional brokerage firms between 1985 and 2004, including Lincoln Financial Advisors in Fort Wayne, Indiana, from 1985 to 1999, whe he was terminated regarding, “failure to notify in writing in advance of outside business activity with llc companies. notified verbally and in writing after llc formed.”
In March 1998, the state of California alleged that he failed to the pay renewal fee and revoked his investment adviser certificate.
Scott Phillips Customer Complaints
He has been the subject of four customer complaints between 2001 and 2024, according to his CRD report. The most recent complaints were regarding:
April 2024. “The customer alleges that in May 2019, the Registered Representative recommended an unsuitable, high-risk, investment and breached his fiduciary duty.” The customer is seeking $68,000 in damages, and the case is currently pending. The complaint was regarding corporate debt investment losses.
April 2024. “The customer alleges that in March and September 2019, the Registered Representative recommended unsuitable, high-risk, investments and breached his fiduciary duty.” The customer is seeking $100,000 in damages, and the case is currently pending. The complaint was regarding corporate debt investment losses.
March 2024. “The customer alleges that in June 2020, the Registered Representative recommended unsuitable, high-risk, investments and breached his fiduciary duty.” The customer is seeking $120,300 in damages, and the case is currently pending. The complaint was regarding corporate debt investment losses.
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, Centaurus Financial, Inc. may be liable for investment or other losses suffered by Scott Phillips’ 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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