Advisor Alert: Our Attorneys Are Investigating Stephen Joseph Hollingsworth For Investment Fraud
Did You Lose Money Because of Stephen (Steve) Hollingsworth?
Filed: February 1, 2024
Stephen Hollingsworth (also known as Steve Hollingsworth) has been the subject of four (4) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Stephen Joseph Hollingsworth.
Who Is Stephen Joseph Hollingsworth of Raymond James Financial Services, Inc. and Raymond James Financial Services Advisors, Inc.?
- Advisor Name: Stephen Joseph Hollingsworth
- Aliases: Stephen J Hollingsworth, Steve Hollingsworth
- CRD: 1328648
- Location: Newton and Newton Lower Falls, Massachusetts
- Current Employer: Raymond James Financial Services, Inc. and Raymond James Financial Services Advisors, Inc.
- Previous Firms: Wells Fargo Advisors, LLC, UBS Financial Services Inc., and Smith Barney Shearson Inc.
- Number of Known Customer Complaints: 4
- Can Stephen Hollingsworth Be Sued: Yes, in Private Arbitration
- Can Stephen Hollingsworth’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $762,908
- Highest Settlement: $415,000
If you have suffered investment losses by Stephen Hollingsworth, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Stephen (Steve) Hollingsworth For Broker Misconduct
As of this publication date, Stephen Hollingsworth has been the subject of 4 customer disputes. Let’s review them below.
In October 2022, a FINRA arbitration was filed against or in reference to Stephen Hollingsworth by multiple customers of Raymond James Financial Services, Inc. alleging that Mr. Hollingsworth purchased and sold securities without authorization, executed an inappropriately high volume of transactions, improperly recommended margin, purchased unsuitable investments in their accounts, and improperly communicated through Facebook messenger. Per the customers, they lost over $762,908 because of Mr. Hollingsworth’s actions. On July 13, 2023, Mr. Hollingsworth settled the claim for $415,000, and some or all of this amount may have been paid by Mr. Hollingsworth’s employer and/or insurance carrier.
In May 2018, a complaint was filed against or in reference to Stephen Hollingsworth by a customer of Raymond James Financial Services, Inc. alleging unsuitable investments. Per the customer, he/she lost over $100,000 because of Mr. Hollingsworth’s actions. On October 22, 2018, Mr. Hollingsworth settled the claim for $40,000, and some or all of this amount may have been paid by Mr. Hollingsworth’s employer and/or insurance carrier.
In July 2013, a FINRA arbitration was filed against or in reference to Stephen Hollingsworth by a customer of Raymond James Financial Services, Inc. alleging churning, over concentration of customer’s account, unsuitability, violation of the Florida Securities and Investor Protection Act, common law fraud, breach of fiduciary duty, negligence, negligent misrepresentation, and breach of contract. Per the customer, he lost over $50,000 because of Mr. Hollingsworth’s actions. An arbitration panel found that Stephen Hollingsworth was negligent and awarded $13,750 in favor of the customers.
In June 2007, a NASD arbitration was filed against or in reference to Stephen Hollingsworth by a customer of UBS Financial Services Inc. alleging suitability and breach of fiduciary duty claims. On November 19, 2007, Mr. Hollingsworth settled the claim for $136,000, and some or all of this amount may have been paid by Mr. Hollingsworth’s employer and/or insurance carrier.
How To File A Claim Against Stephen (Steve) Hollingsworth of Raymond James Financial Services, Inc. and Raymond James Financial Services Advisors, Inc. (previously with Wells Fargo Advisors, LLC, UBS Financial Services Inc., and Smith Barney Shearson Inc.) To Get Your Money Back
If you have questions about Stephen Hollingsworth, Raymond James Financial Services, Inc., Raymond James Financial Services Advisors, Inc., Wells Fargo Advisors, LLC, UBS Financial Services Inc., Smith Barney Shearson Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.