Can I recover losses from investments with Centaurus Financial, Inc. broker Steven Nielsen (CRD# 4184826) regarding unsuitable investment recommendations? He has been registered with Centaurus Financial, Inc. in Gilbert, Arizona, since 2017. Previously, he was registered with DFPG Investments, Inc. in Gilbert, Arizona, from 2014 to 2017. Before then, he was registered with Diversify Wealth Management, Inc. in Tempe, Arizona, from 2014 to 2015 and with Madison Avenue Securities, Inc. in Tempe, Arizona, from 2012 to 2014, when he was terminated regarding “on November 15, 2013, the firm received an 8210 inquiry which informed the firm that FINRA was in receipt of information which alleged that the RR may have used misleading marketing materials and an unapproved email address.”
Steven Nielsen Customer Complaints
He has been the subject of six customer complaints between 2014 and 2022, according to his CRD report. Recent complaints are regarding:
November 2022. “The customer alleges that the Registered Representative misrepresented unsuitable investments and breached his fiduciary duty. No dates for the alleged activity were disclosed in the Statement of Claim” The customer is seeking $60,000 in damages, and the case is currently pending.
October 2022. “In March 2020, the customer alleges that the Registered Representative recommended a speculative, high risk and unsuitable investment.” The customer is seeking $69,000 in damages, and the case is currently pending. The complaint took place while he was registered with Centaurus Financial, Inc., and it was regarding corporate debt and real estate securities.
August 2022. “During Spring 2020, the customer alleges that the Registered Representative recommended an unsuitable, risky and illiquid investment.” The customer is seeking $100,000 in damages, and the case is currently pending. The complaint took place while he was registered with Centaurus Financial, Inc., and it was regarding corporate debt.
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 Steven Nielsen’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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