Have You Experienced Losses Due to Broker, STEVEN KNUTTILA of Capital Financial Services of Perham, Minnesota?

STEVEN ROLAND KNUTTILA (STEVEN KNUTTILA) CRD#: 3039112

According to FINRA’s BrokerCheck, Steven Knutilla, a Perham, Minnesota broker with Capital Financial Services, Inc., has 21 Disclosures on his report, with 20 listed as “Customer Disputes.”  Of the cases pending, the clients are alleging, among other things, unsuitable sales and recommendations of alternative investments, poor investment advice, and alleged recommendations to concentrate client portfolios in illiquid private placements, including several oil and real estate investments. Some of the Claimants in the filings are retirees.  Allegedly, some of the products  recommended were non-traded,  high-risk securities.  Non-traded securities can benefit the brokers and firms due to the fact that they produce higher commissions.  However, these products can harm the investors because the products are not only high-risk in a conservative portfolio, but they are not easily liquidated. Lack of liquidity often causes problems for the elderly investors who may need cash for problems that can arise in their lives.

Knutilla was discharged from QUESTAR CAPITAL CORPORATION in May of 2012, following allegations that he failed to follow firm procedures regarding the reporting of customer complaints and failing to follow firm procedures regarding the use of discretion.

According to FINRA’s BrokerCheck, STEVEN KNUTTILA, has been in the securities industry for 19 years listed with 5 firms.  He is currently listed with since 6/4/2012:

CAPITAL FINANCIAL SERVICES, INC.

655 3RD AVE SE Suite A

PERHAM, MN 56573

Knutilla was previously listed with:

12/01/2006 – 06/06/2012  Questar Capital Corporation – PERHAM, MN

If you experienced losses due to the actions, recommendations or lack of supervision by Capital Financial Services’ broker, STEVEN KNUTTILA, of Perham, Minnesota, call Soreide Law Group for a no-cost consultation with an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group operates on a contingency fee basis and we represent clients nationwide before FINRA.  Let our years of experience work for you.

 

2017-06-01T20:08:10+00:00 June 1st, 2017|

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