Steven LaMar Nielsen, has been registered with CENTAURUS FINANCIAL, INC. of Gilbert, Arizona since 8/7/2017 both as a broker and as a financial advisor. According to FINRA’s BrokerCheck, available to the public on FINRA’s website, Nielsen has been in the securities industry for 24 years and was listed with 11 firms.
According to BrokerCheck, Steven LaMar Nielsen, has 11 Disclosures on his FINRA CRD report. One of the disclosures is an “Employment Separation After Allegations,” dated 12/31/2013, stating that Nielsen was “permitted to resign” from MADISON AVENUE SECURITIES, INC. of Tempe, Arizona, with allegations of, “ON NOVEMBER 15, 2013, THE FIRM RECEIVED AN 8210 INQUIRY WHICH INFORMED THE FIRM THAT FINRA WAS IN RECEIPT OF INFORMATION WHICH ALLEGED THAT THE RR MAY HAVE USED MISLEADING MARKETING MATERIALS AND AN UNAPPROVED EMAIL ADDRESS.”
Steven LaMar Nielsen has 10 “Customer Disputes,” on his FINRA CRD report. The significance of Nielsen’s FINRA Customer Complaints is underscored in FINRA NOTICE to MEMBERS 03-49. FINRA conducted a review of the CRD’s of all registered representatives, only .41% had been the subject of (3) or more customer complaints. In other words Steven LaMar Nielsen’s customer complaints rank him in the top one-hundredth percent of all registered representatives for customer complaints. Of the 10 disputes, 6 have settled and 4 are pending.
Some examples of settled disputes listed on BrokerCheck are:
On 8/4/2022 a dispute was settled against Nielsen with allegations of, “During Spring 2020, the customer alleges that the Registered Representative recommended an unsuitable, risky and illiquid investment.” The settlement amount was $49,900.00.
A dispute settled on 10/18/2022, following the allegation, “In March 2020, the customer alleges that the Registered Representative recommended a speculative, high risk and unsuitable investment.” The settlement amount was $34,000.00.
Some of the other allegations listed in part with the settled disputes were, “misrepresented unsuitable investments and breached his fiduciary duty, improperly recommended a high-risk and illiquid investment, and churned the account, and investments were inappropriate.” Steven LaMar Nielsen denies all allegations.
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