Steven Nielsen In Centaurus Clients’ Breach Of Fiduciary Duty Complaints

Investors possibly experienced losses because of securities broker Steven LaMar Nielsen [CRD: 4184826, Gilbert, Arizona], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Steven Nielsen joined Centaurus Financial Inc. as a broker and financial advisor at their Gilbert, Arizona location on August 7, 2017. Here’s an overview of Steven Nielsen’s disclosures.

Centaurus Financial Inc. Investor Accused Nielsen Of Breach Of Fiduciary Duty

Also, on March 25, 2024, a Centaurus Financial Inc. client filed FINRA Arbitration No. 24-00618 about Steven Nielsen. Supposedly, Nielsen recommended a high-risk investment and breached his fiduciary duty. Because of this, the client allegedly sustained damages on unsuitable corporate bonds. Therefore, the client requested $46,000 in compensation from Centaurus Financial Inc. or Nielsen. Currently, this arbitration is unresolved.

Steven Nielsen Disclosed Unsuitable Recommendations Allegations By Centaurus Financial Inc. Client

Particularly, a client of Centaurus Financial Inc. contested Steven Nielsen’s sales practices by filing FINRA Arbitration No. 23-03147 on October 31, 2023. Allegedly, Nielsen recommended an aggressive and illiquid investment. Supposedly, the securities broker also breached his fiduciary duty. It appears that Nielsen caused the client to sustain damages on real estate securities. For this reason, the client seeks damages from Centaurus Financial Inc. or Nielsen in the amount of $36,000 in this ongoing matter.

Investor Accused Nielsen Of Unsuitable Advice

Additionally, a Centaurus Financial Inc. client filed FINRA Arbitration No. 23-01868 about Steven Nielsen. Mainly, the client alleged that Nielsen improperly recommended a high-risk and illiquid bond. Because of this, the client allegedly sustained damages. Because of this, on February 2, 2024, Centaurus Financial Inc. settled this matter by paying the client $34,111.33 in damages.

Steven Nielsen Disclosed Misrepresentation Allegations By Client

Also, a client of Centaurus Financial Inc. contested Steven Nielsen’s sales practices by filing FINRA Arbitration No. 22-02629. Allegedly, Nielsen misrepresented investments and breached his fiduciary duty. It appears that Nielsen caused the client to sustain damages on REITs and bonds. As a result, Centaurus Financial Inc. opted to settle the matter on April 26, 2024, by compensating the client in the amount of $60,000.

Centaurus Financial Inc. Investor Accused Nielsen Of Unsuitable Advice

Previously, a Centaurus Financial Inc. client filed FINRA Arbitration No. 22-02363 about Steven Nielsen. Supposedly, Nielsen recommended unsuitable corporate bonds. For this reason, on May 30, 2023, Centaurus Financial Inc. settled this matter by paying the client $34,000 in damages.

SII Investments Inc. Investor Accused Steven Nielsen Of Bad Direct Investments

In addition, a client filed a complaint about Steven Nielsen. Mainly, the client alleged that Nielsen made unsuitable investment recommendations. Because of this, the client allegedly sustained damages on direct investments. Therefore, on May 1, 2018, SII Investments Inc. settled this matter by paying the client $15,000 in damages.

Did You Sustain Losses Because Of Nielsen?

Have you experienced losses due to financial advisor / securities broker Steven Nielsen? You could get in touch with Soreide Law Group online or at (888) 760-6552 and talk to a securities attorney regarding a potential recovery of your investment losses. Soreide Law Group investment loss lawyers help individuals throughout the United States, work on a contingency fee basis, and advance all costs. Nielsen and brokerage firms Nielsen worked for deny accusations of sales practice violations.