Advisor Alert: Our Attorneys Are Investigating Stephen Thomas Kerutis For Investment Fraud
Did You Lose Money Because of Steve Kerutis?
Filed: November 6, 2023
Steve Kerutis (also known as Stephen Thomas Kerutis) currently has one (1) pending customer complaint. Overall, he has been the subject of five (5) 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 Thomas Kerutis.
Who Is Stephen Thomas Kerutis of LPL Financial LLC?
- Advisor Name: Stephen Thomas Kerutis
- Aliases: Steve Kerutis
- CRD: 2345517
- Location: Lenoir City, Tennessee
- Current Employer: LPL Financial LLC
- Previous Firms: Truist Advisory Services, Inc., Truist Investment Services, Inc., and BB&T Securities, LLC
- Number of Known Customer Complaints: 5
- Can Stephen Kerutis Be Sued: Yes, in Private Arbitration
- Can Stephen Kerutis’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $500,000
- Highest Settlement: $65,000
If you have suffered investment losses by Stephen Kerutis, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud 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 Steve Kerutis For Broker Misconduct
As of this publication date, Stephen Kerutis has been the subject of 5 customer disputes. Let’s review them below.
In July 2023, a complaint was filed against or in reference to Stephen Kerutis by a customer of LPL Financial LLC alleging that the client gave the advisor $500 in cash, which he took. Customer also alleges misrepresentation of market linked CDs. In a follow-up complaint dated 7/25/23, the customer also alleged forgery of her signature on account documents. As of this publication date, this claim remains pending.
In August 2022, a complaint was filed against or in reference to Stephen Kerutis by a customer of Truist Investment Services, Inc. alleging concern regarding suitability of investment based on the lack of payouts in the past four years.
In June 2015, a complaint was filed against or in reference to Stephen Kerutis by multiple customers of Wells Fargo Advisors Financial Network, LLC alleging that the clients’ investment objectives were disregarded and that a lack of diversification and poor trading resulted in losses.
In May 2012, a complaint was filed against or in reference to Stephen Kerutis by a customer of Edward Jones alleging that the client wanted to pay off loans and went to Mr. Kerutis to liquidate all her accounts. The client claims she was not told one thing about what would happen with the IRS if she did this. As a result she owed $69,000 to the IRS and $10,000 to the State. The client is still paying the loan off that she took out to pay taxes. Per the customer, she lost over $79,000 because of Mr. Kerutis’s actions.
In July 2009, a FINRA arbitration was filed against or in reference to Stephen Kerutis by a customer of Edward Jones alleging breach of contract and warranties, promissory estoppel, violation of state statutes, intentional and negligent misrepresentations of material fact, breach of fiduciary, and failure to supervise through allegedly recommending an overly aggressive portfolio of mutual funds in the spring of 2008. Per the customer, he/she lost over $500,000 because of Mr. Kerutis’s actions. On October 19, 2010, Mr. Kerutis settled the claim for $65,000, and some or all of this amount may have been paid by Mr. Kerutis’s employer and/or insurance carrier.
How To File A Claim Against Steve Kerutis of LPL Financial LLC (previously with Truist Advisory Services, Inc., Truist Investment Services, Inc., and BB&T Securities, LLC) To Get Your Money Back.
If you have questions about Stephen Kerutis, LPL Financial LLC, Truist Advisory Services, Inc., Truist Investment Services, Inc., BB&T Securities, LLC, 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.