Last Updated: December 2023 (Fairhope, Alabama)
Stephen Stanford Investigation Summary
Here’s what you need to know about Fairhope, Alabama, stockbroker Stephen Stanford:
- Name: Mr. Stephen Russell Stanford
- Current Employer: Portsmouth Financial Services
- DBA: Stanford Investments LLC
- Previous Firms: East/ West Securities, White Pacific Securities
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Steve Stanford
- Primary Location: Fairhope, AL
- CRD 1686790
- Can Steve Stanford be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Discharged by a prior employer: Yes
- Highest Settlement or Award: $225,000
- Pending Customer Dispute Seeks Damages of $60,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Stephen Stanford As Your Stockbroker?
In 11/2023 a customer of Portsmouth Financial Services filed a FINRA arbitration alleging that Steve Stanford gave misleading investment advice and failed to perform adequate due diligence with regard to a recommendation to invest in GWG L Bonds. Damages of $60,000 are sought in this currently pending matter.
In a prior settlement a customer was paid $225,000 to resolve allegations that Stanford traded the account without authorization causing losses.
Steve Stanford was discharged by Paine Webber in 2000 after a client alleged that he had traded an account without authorization.
How to recover losses on GWG Bonds-UPDATE
Allegations of Broker Misconduct Against Stephen Stanford
Customers of Steve Stanford have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation
- Misleading information
- Failed to perform adequate due diligence before recommending GWG L Bonds
- Trading without authority
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Steve Stanford, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
