Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on April 16, 2019 indicate that Nevada-based Stifel Nicolaus & Company broker/adviser Mark Elston has been terminated or resigned from two former employers in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Elston (CRD# 702496).
Mark Elston has spent 39 years in the securities industry and has been registered with Stifel Nicolaus ^ Company in Reno, Nevada since 2014. Previous registrations include LPL Financial in Reno, Nevada (2012-2014); Wells Fargo Advisors in Reno, Nevada (2004-2012); RBC Dain Rauscher in New York, New York (1998-2004); Dain Rauscher (1994-1998); Everen Securities in St. Louis, Missouri (1990-1994); Bateman Eichler Hill Richards (1988-1990); Birr Wilson Securities (1986-1988); Birr Wilson & Company (1984-1986); and Dean Witter Reynolds (1979-1984). He has passed six securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on January 17, 1994; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on January 22, 1980; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 5 (Interest Rate Options Examination), which he obtained on December 11, 1982; Series 7 (General Securities Representative Examination), which he obtained on December 15, 1979; and Series 8 (General Securities Sales Supervisor Examination [Options Module & General Module]), which he obtained on March 14, 1984. He is a registered broker and investment adviser with 21 US states and territories: Alabama, Arizona, California, Colorado, Hawaii, Idaho, Kansas, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New York, Oregon, South Dakota, Tennessee, Texas, Utah, Washington, and Wisconsin.
According to his BrokerCheck report, Mark Elston has received one denied customer complaint, was terminated from a former employer in connection to alleged rule violations, and resigned from a former employer in connection to alleged rule violations.
In March 2019 a customer’s executor alleged Mark Elston, while employed at Stifel Nicolaus & Company, did not properly diversify the customer’s accounts. The claimant is seeking $771,000 in damages in the pending complaint.
In 2014 he was terminated from his position at LPL Financial in connection to allegations he participated in “frequent switching activity” with mutual fund products, exchange-traded funds, and unit investment trusts, and that he incompletely disclosed these activities.
In 1994 he was “permitted to resign” from Kemper Securities in connection to allegations he breached his fiduciary duty.
If you have complaints regarding Mark Elston, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.