SW Financial Broker, Stephen Sullivan, Has Pending Customer Complaint For “Unsuitable Transactions, Excessive Trading And Failure To Supervise”
The Wolper Law Firm is currently investigating claims against Stephen Sullivan, a Financial Advisor at SW Financial in Melville, NY. Stephen Sullivan has been in the securities industry since 1998 and previously worked at Worden Capital Management, Newbridge Securities Corp and Legend Securities.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on May 7, 2018, a customer filed a complaint against Stephen Sullivan, alleging “unsuitable transactions, excessive trading, and failure to supervise.” Alleged damages are $540,618 and the matter remains pending.
In addition, in November 2010, a second client filed a customer complaint against Stephen Sullivan, alleging an “unauthorized trade.”
Stephen Sullivan also has myriad liens and judgments reported on hid disclosure report, which may be indicative of poor financial management.
Lastly, in February 2016, Stephen Sullivan was sanctioned by FINRA for unauthorized trading. He was suspended for ten days and ordered to pay a fine.
To review the entire disclosure history for Stephen Sullivan, click https://brokercheck.finra.org/individual/summary/3123249#disclosuresSection
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.
If you or someone you know was a customer of Stephen Sullivan and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at email@example.com to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
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.