Kyle Steibel The Focus Of CUNA Brokerage Services Investors’ Misrepresentation Allegations

Investors possibly experienced sales practice violations by securities broker Kyle W. Steibel [CRD: 6631554, Belleville, Illinois], according to disclosures on FINRA BrokerCheck. Evidently, Kyle Steibel worked for CUNA Brokerage Services Inc. from May 20, 2020, to February 16, 2022. Continue reading to find out more about the disclosures involving Steibel.

Cuna Brokerage Services Inc. Investor Accused Steibel Of Omissions

Notably, a client filed a complaint about Kyle Steibel. The client alleged that Steibel made omissions of material fact regarding mutual funds purchased across different fund families, which disqualified the client from receiving a breakpoint discount. Because of this, the client allegedly sustained damages linked to mutual funds. As a result, on May 23, 2023, CUNA Brokerage Services Inc. settled this matter by paying the client $42,470.23 in damages.

Kyle Steibel Disclosed Misrepresentation Allegations By Cuna Brokerage Services Inc. Client

Specifically, a client of CUNA Brokerage Services Inc. disputed Kyle Steibel’s sales practices, according to a complaint. Allegedly, Steibel made misrepresentations of material fact about a retirement account. It appears that Steibel caused the client to sustain damages relating to a variable annuity. Consequently, CUNA Brokerage Services Inc. opted to settle the matter on December 1, 2023, by compensating the client in the amount of $25,200.17.

Cuna Brokerage Services Inc. Client Accused Steibel Of Unsuitable Recommendations

Evidently, a client filed a complaint about Kyle Steibel. Primarily, the client alleged that Steibel made unsuitable recommendations that did not match the client’s conservative risk tolerance. For this reason, the investor allegedly incurred damages connected to mutual funds. Therefore, on May 17, 2023, CUNA Brokerage Services Inc. settled this matter by paying the client $20,727.02 in damages.

Kyle Steibel Disclosed Unsuitable Recommendations Allegations By Cuna Brokerage Services Inc. Client

Additionally, a client of CUNA Brokerage Services Inc. contested Kyle Steibel’s sales practices, according to a complaint. Allegedly, Steibel made unsuitable recommendations of mutual funds across several fund families, which disqualified the client from receiving a breakpoint discount and did not align with the client’s risk tolerance. It appears that Steibel caused the client to sustain damages. As a result, CUNA Brokerage Services Inc. opted to settle the matter on May 22, 2023, by compensating the client in the amount of $24,259.65.

Were You Impacted By Financial Advisor / Securities Broker Steibel?

Did you suffer any investment-related losses because of Kyle Steibel? You should contact Soreide Law Group at (888) 760-6552 or online and talk with a securities lawyer concerning a potential recovery of your investment losses. For years, Soreide Law Group has recovered losses for investors throughout the country. Also, the firm works on a contingency fee basis and advances all costs. Steibel and brokerage firms Steibel worked for deny accusations of sales practice violations.