Securities Lawyers Blog
Current D.H. Hill Securities, LLLP (D.H. Hill) broker Charles Stevens (Stevens) has been subject to four customer complaints and five tax liens. According to a BrokerCheck report many of the complaints concern alternative investments and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs). The attorneys at Gana Weinstein LLP have extensive experience handling investor losses caused by these types of products.
In addition, Stevens is subject to massive tax liens totaling hundreds of thousands of dollars. In March 2017 Stevens disclosed a tax lien of over $202,000. The fact that a broker cannot manage his own personal finances is material information for a client to consider. In addition, the types of products clients have alleged were unsuitable are high commission products that may be recommended to generate high profits for the advisor at the expense of the client.
In March 2018 a customer filed a complaint alleging unsuitable recommendations, breach of fiduciary duty, negligence, failure to supervise and breach of contract during period of 2012 to 2017. The client alleged $150,000 in damages and the claim is currently pending.