Investors apparently complained about securities broker Steven Bae Cho [CRD: 2610257, Red Bank, New Jersey], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Cho worked for Herbert J. Sims Co. Inc. beginning on February 1, 2019, and later became registered with Herbert J. Sims Capital Management Inc. on August 18, 2021, after previously being employed by David Lerner Associates Inc. from August 4, 2009, to February 4, 2019. Keep reading to find out more about the disclosures involving Cho that may be relevant to investors.
Specifically, on December 19, 2025, a Herbert J. Sims Co. Inc. client filed FINRA Arbitration No. 25-02731 about Steven Cho. Primarily, the client alleged that Cho made unsuitable recommendations and misrepresentations. For this reason, the client allegedly sustained damages associated with a private investment closed end fund. Therefore, the client requested $100,000 in compensation from Herbert J. Sims Co. Inc. or Cho. It appears that this arbitration awaits a resolution.
Evidently, a client of David Lerner Associates Inc. contested Cho’s sales practices, according to a complaint dated August 14, 2025. Allegedly, Cho made unsuitable recommendations. It appears that Cho allegedly caused the client to incur damages connected to mutual funds. As a result, the client sought compensation from David Lerner Associates Inc. or Cho in the amount of $378,679.92 in this matter. This complaint was later denied on September 12, 2025.
Notably, a David Lerner Associates Inc. client filed FINRA Arbitration No. 21-02275 about Steven Cho. Mainly, the client alleged that Cho made unsuitable recommendations and misrepresentations. Because of this, the client allegedly incurred damages linked to a private placement. Consequently, on December 7, 2021, David Lerner Associates Inc. settled this matter by paying the client $13,000 in damages.
Did you suffer any investment-related losses because of Steven Cho? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney regarding a possible recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the country. Also, the firm works on a contingency fee basis and advances all costs. Cho and brokerage firms Cho worked for deny accusations of sales practice violations.
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