Financial Advisor Brent Nelson Has Been The Subject Of Customer Dispute

• April 16, 2025
• Stone X

Brent Alan Nelson (CRD#: 3026585) is a registered broker and investment advisor with Stonex Securities Inc. in Youngstown, OH.

Broker’s History

He entered the securities industry in 1998 and previously worked with Fairchild Financial Group, Inc. (FINRA expelled the firm in 2001); AC Financial, Inc.; IAR Securities Corp. (FINRA expelled the firm in 2012); WRP Investments, Inc.; and Sterne Agee Investment Advisor Services, Inc.

Current and Past Allegations of Conduct Leading to Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in August 2024, Brent Nelson became the subject of a customer dispute where the Claimant alleged, “respondent sold high-commission, complex, risky alternative investment and illiquid investment products causing significant decrease in the value of invested principal.” The damage amount requested is $180,000 and the customer dispute is still pending.

In addition, Brent Nelson has been the subject of six other FINRA disclosures:

• May 2007— Investigation initiated by STATE OF OHIO DEPT OF COMMERCE DIVISION OF SECURITIES, “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.”
• June 2002— “THE RESPONDENT’S REGISTRAION AS A SALESPERSON IN ILLINOIS IS REVOKED.”
• December 2001— SUSPENDED FROM ASSOCIATION WITH ANY NASD MEMBER IN ANY CAPACITY FOR 30 BUSINESS DAYS AND ORDERED TO PAY DISGORGEMENT OF $14,500, REPRESENTING COMMISSIONS. “ NASD RULES 2110 – WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, RESPONDENT CONSENTED TO THE ENTRY OF FINDINGS 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.”
• February 2001—“CUSTOMER ALLEGES THAT HE DIDNT KNOW HIS ACCOUNT WAS ON MARGIN.” The damage amount requested is $30,000 and the customer dispute is still pending.
• January 2000—Voluntary Resignation from AC Financial, “AC FINANCIAL IS CONDUCTING AN INTERNAL REVIEW REGARDING ALLEGATIONS SET FORTH BY THEIR CLEARING AGENT.”
• June 1999—Voluntary Resignation from Fairchild Financial Group, “BRENT NELSON IS UNDER INTERNAL REVIEW FOR THEFT OFM COMPANY RECORDS.”

For a copy of Brent Nelson’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

Reasonable basis suitability requires that a recommended investment or investment strategy be suitable or appropriate for at least some investors. Reasonable basis suitability requires an advisor to conduct adequate due diligence so that he or she can determine the risks and rewards of the investment or investment strategy.

Customer-specific suitability requires that a member or associated person have a reasonable basis to believe that the recommendation is suitable for a particular customer based on that customer’s investment profile. Among the criteria that a financial advisor must evaluate to satisfy his or her customer-specific suitability obligations include the investor’s age, tax status, time horizon, liquidity needs, and risk tolerance; a client’s other investments, financial situation and needs, investment objectives, and any other information disclosed by the customer should also be considered.

Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation. Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.