Last Updated: December 2023 (Naples, FL)
Stephen Wedel Investigation Summary
Here’s what you need to know about Naples, FL, stockbroker Stephen Wedel:
- Name: Mr. Stephen Herman Wedel
- Current Employer: Private Client Services, RFG Advisory (RIA)
- DBA: Four Seasons Wealth Management, Wedel & Associates Financial Services
- Previous Firms: LPL Financial
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Steve Wedel
- Primary Location: Naples, Florida
- CRD 1221992
- Can Steve Wedel be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $145,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Stephen Wedel As Your Stockbroker?
Two customers of LPL Financial have settled claims alleging the Steve Wedel sold unsuitable alternative investments (Business Development Company, BDC, and Real Estate Investment Trust, REIT). One customer was paid $145,000, the other was paid $8,000.
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk.
Allegations of Broker Misconduct Against Stephen Wedel
Customers of Steve Wedel have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to invest in alternative investments
- Overexposed customer to risk
- Overconcentrated account in a Business Development Company that was inappropriate for the customer’s investment objectives
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer. FINRA Rule 2111- suitability
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 Wedel, 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.
