Eric Stiba: Lion Street Advisor Under SEC Investigation

Waco, Texas financial advisor Eric Stiba (CRD# 5635690) is under investigation by the Securities and Exchange Commission in connection with the sales of an alternative investment. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Lion Street Financial and Lion Street Advisors, respectively. He is also a representative of Stiba Wealth Management Group.

Mr. Stiba’s BrokerCheck report discloses the SEC investigation against him. Filed in May 2024, it states that the regulator determined to recommend an enforcement action against him alleging rule violations related to “recommendations of an alternative investment to certain clients.” The SEC’s investigation remains pending.

His BrokerCheck report also discloses four investor complaints. The most recent, filed in September 2023, alleges that as a representative of Lion Street Financial, he engaged in unspecified misconduct relating to the sale of an alternative investment. In March 2024 the complaint reached a settlement of $37,500.

A second investor complaint, filed in 2023, similarly alleged that as a Lion Street Financial representative, he engaged in unspecified misconduct relating to an alternative investment recommendation. The pending complaint alleges damages of $200,000.

Stiba Wealth Management Group’s website includes a profile of Mr. Stiba that describes his background and services. “Since joining Stiba Wealth Management Group, Eric’s main focus has been Holistic Financial Planning,” it states. “His knowledge of products and understanding of client needs help him to fill gaps in any portfolio. Eric has a passion for Financial Planning and is working to grow not only his book of business but also increasing his knowledge of possible strategies for clients’ financial comfort.”

According to the Financial Industry Regulatory Authority, Eric Stiba holds 15 years of securities industry experience. Based in Waco, Texas, he has been registered as a broker and an investment advisor with Lion Street Financial and Lion Street Advisors, respectively, since 2016. He was previously registered with Woodbury Financial Services in Waco from 2009 until 2016. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 24 state licenses. (Information current as of July 28, 2024.)

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