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Steve Netzel, Formerly a Broker in Sun Lakes, Arizona, Involved in $300,000 Customer Dispute Over Unsuitable Investment Recommendations

Steve Netzel (CRD#: 2863170), previously a registered representative with Madison Avenue Securities, LLC of Sun Lakes, Arizona (CRD#: 23224), is currently involved in a pending customer dispute in which a client alleges that he made unsuitable recommendations, according to his BrokerCheck report accessed on October 22, 2019. The client is requesting $300,000 in damages. According to BrokerCheck, Steve Netzel is not currently registered as a broker. Did your broker take your risk tolerance into account when executing trades on your behalf? Did they discuss your short-term and long-term investing goals, including your need for liquidity, if applicable? If you’re unsure of your answer, you may benefit from contacting a securities attorney who can advise you regarding what constitutes unsuitable trading.

This pending customer dispute is not the only disclosure on Steve Netzel’s BrokerCheck. On March 1, 2012, Steve Netzel consented to a $10,000 civil and administrative penalty from the Arizona Corporation Commission, Securities Division. The Arizona Securities Division alleged:

Steve NetzelNetzel violated A.R.S. 44-1841 by offering or selling securities that were neither registered nor exempt from registration. Netzel violated A.R.S. 44-1842 by offering or selling securities while neither registered as a dealer or salesman nor exempt from registration.

Steve Netzel is no longer registered as a broker in Arizona or any other state. Previously, he worked for Madison Avenue Securities, LLC (CRD#: 23224) of Sun Lakes, Arizona on two separate occasions, from 2009 to 2013 and for two months in 2019. He also worked for Kalos Capital, Inc. (CRD#: 44337) of Chandler, Arizona.

If Steve Netzel was your broker or you have questions about your investments, don’t hesitate to contact a securities attorney. Call (877) 238-4175 or email info@fkesq.com for your free case consultation with the securities attorneys of Fitapelli Kurta.

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