Advisor Alert: Our Attorneys Are Investigating Stephen James Sperling For Investment Fraud
Did You Lose Money Because of Stephen Sperling?
Filed: February 27, 2024
Stephen Sperling currently has three (3) pending customer complaints. Overall, he has been the subject of eight (8) 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 James Sperling.
Who Is Stephen James Sperling of Wintrust Investments LLC?
- Advisor Name: Stephen James Sperling
- Aliases: Stephen Sperling
- CRD: 3061073
- Location: Palatine, Illinois
- Current Employer: Wintrust Investments LLC
- Previous Firms: Lasalle Financial Services, Inc. and Lasalle Financial Services, Inc.
- Number of Known Customer Complaints: 8
- Can Stephen Sperling Be Sued: Yes, in Private Arbitration
- Can Stephen Sperling’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $1,000,000
- Highest Settlement: Unknown
If you have suffered investment losses by Stephen Sperling, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a failure to supervise 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 Sperling For Broker Misconduct
As of this publication date, Stephen Sperling has been the subject of 8 customer disputes. Let’s review them below.
In January 2024, a FINRA arbitration was filed against or in reference to Stephen Sperling by a customer of Wintrust Investments LLC that Mr. Sperling promised the claimant that she would receive a 6.5% return on investment and a monthly dividend of $900.00 and failed to inform claimant that she was investing in an illiquid investment. The claim also alleges that Mr. Sperling recommended holding the REIT at all times. Per the customer, she lost over $500,000 because of Mr. Sperling’s actions. As of this publication date, this claim remains pending.
In October 2023, a FINRA arbitration was filed against or in reference to Stephen Sperling by multiple customers of Wintrust Investments LLC alleging that investment recommendations were not suitable and that the firm failed to conduct proper due diligence on the Northstar Healthcare income REIT and failed in supervision of the sale of these products. Per the customer, he/she lost over $1,000,000 because of Mr. Sperling’s actions. As of this publication date, this claim remains pending.
In May 2023, a FINRA arbitration was filed against or in reference to Stephen Sperling by multiple customers of Wintrust Investments LLC alleging that Mr. Sperling inexplicably recommended that Ms. Botkin allocated a significant portion of her personal and/or trust assets in non-traded investment vehicles that were high risk investments, and inconsistent with her risk tolerance. Mr. Sperling allegedly described these investments as safe, conservative, and income producing and did not explain or disclose the risks including lack of liquidity, lack of transparency or the nature of the complex alternative investments. Per the customer, she lost over $100,000 because of Mr. Sperling’s actions. As of this publication date, this claim remains pending.
In July 2023, a FINRA arbitration was filed against or in reference to Stephen Sperling by multiple customers of Wintrust Investments LLC alleging that Mr. Sperling made unsuitable recommendations for the clients to invest a significant portion of their assets in non-traded REITs, failing to provide full disclosures as to the risks associated with these investments and did not educate the clients to the illiquid nature of these investments. Per the customers, they lost over $100,000 because of Mr. Sperling’s actions.
In September 2021, a complaint was filed against or in reference to Stephen Sperling by a customer of Wintrust Investments LLC alleging that Mr. Sperling failed to communicate or disclose the risks of REIT investment which has been frozen with no payouts for years. Per the customer, he/she lost over $20,000 because of Mr. Sperling’s actions.
In July 2021, a complaint was filed against or in reference to Stephen Sperling by a customer of Wintrust Investments LLC alleging that when REIT recommendation from 2014 started losing money, Mr. Sperling advised the client to not cash in and as a result the client has experienced large unrealized losses. Per the customer, he/she lost over $103,437.76 because of Mr. Sperling’s actions.
In March 2018, a complaint was filed against or in reference to Stephen Sperling by a customer of Wintrust Investments LLC alleging that Mr. Sperling failed to disclose the risks and longevity of the non-traded REIT investment for which she purchased upon his recommendation. The REIT Investment has recently cut its income payout and Net Asset Value. Per the customer, he/she lost over $27,000 because of Mr. Sperling’s actions.
In September 2004, a complaint was filed against or in reference to Stephen Sperling by a customer of ABN Amro Financial Services, Inc. alleging that the client was unaware that yearly premium payments were required. Per the customer, he/she lost over $10,000 because of Mr. Sperling’s actions.
How To File A Claim Against Stephen Sperling of Wintrust Investments LLC (previously with Lasalle Financial Services, Inc. and Lasalle Financial Services, Inc.) To Get Your Money Back
If you have questions about Stephen Sperling, Wintrust Investments LLC, Lasalle Financial Services, Inc., Lasalle Financial Services, 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.