A customer dispute that settled for $80,000 on July 16, 2026 is the newest entry on the BrokerCheck report of Stephen Kerutis (CRD 2345517). The clients in that matter alleged unsuitable recommendations, and Truist Investment Services is the firm on the disclosure.
His report also lists an LPL Financial dispute over a structured note and CDs, plus a mutual fund arbitration from 2009. Each of these matters settled, and a settlement is not an admission of wrongdoing.
According to BrokerCheck, the clients filed this dispute on August 6, 2025, under docket number 25-01603. The product listed for Stephen Kerutis in that matter is a CD.
Most people think of a CD as a plain bank deposit with a fixed rate. Brokerage firms also sell brokered CDs and market-linked CDs, and those work differently. A market-linked CD ties its return to an index or a basket of stocks. Gains may face a cap, and the payout can depend on a formula in the offering terms.
Selling early can also be harder than with a bank CD. Brokered CDs trade in a secondary market, so an investor who sells before maturity may get less than face value.
Because of those features, suitability questions come up even with a product that sounds safe. In our files, the first document we pull is the disclosure statement the customer received at purchase. The CD disputes on the Stephen Kerutis report involve this product family.
An earlier dispute naming Stephen Kerutis lists LPL Financial as the firm. The customer filed it on July 26, 2023, and it settled on November 1, 2023 for $93,110. BrokerCheck lists a structured note and a CD as the products.
In that complaint, the customer alleged she gave the advisor $500 in cash, which he took. She also alleged misrepresentation of market-linked CDs. Later, in a follow-up complaint, she added an allegation of forgery of her signature.
The oldest dispute dates to July 13, 2009, under docket number 09-04011. The claimant sought between $225,000 and $500,000, plus interest and costs, over a portfolio of mutual funds.
According to the disclosure, the allegations included breach of contract and warranties, promissory estoppel and violation of state statutes. The claim also alleged misrepresentation, breach of fiduciary duty and failure to supervise. It centered on an allegedly overly aggressive mutual fund portfolio recommended in the spring of 2008.
Stephen Kerutis's report shows the matter settled on October 19, 2010 for $65,000.
Every FINRA member firm must supervise its brokers. Investors with questions about an account Stephen Kerutis handled can call Soreide Law Group at (888) 760-6552. You can also reach us online. Our attorneys represent investors in FINRA arbitration nationwide. We take these cases on a contingency fee basis. You can read more about how FINRA arbitration works.
This post summarizes public FINRA records, including BrokerCheck, as of October 28, 2026. Allegations in customer complaints and arbitrations are claims, not findings. A settlement is also not an admission of wrongdoing. FINRA may also update or correct these records after that date.
A customer dispute that settled for $80,000 on July 16, 2026 is the newest entry on the BrokerCheck report of Stephen Kerutis (CRD 2345517). The clients in that matter alleged unsuitable recommendations, and Truist Investment Services is the firm on the disclosure.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
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