Dave Stone: $1mm-$5mm Complaints Against Stifel Advisor

New York City financial advisor Dave Stone (CRD# 4219856) has received multiple investor complaints alleging that his conduct resulted in six- or seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Stifel Nicolaus & Company.

Mr. Stone’s BrokerCheck report discloses three investor complaints. The most recent, filed in March 2025, alleges that as a representative of Stifel Nicolaus & Company, he breached his fiduciary duty, acted negligently, committed fraud, breached contract, and violated state and federal securities law. The pending complaint alleges damages between $500,000 and $1,000,000.

A second investor complaint, filed in October 2024, similarly alleged that he breached his fiduciary duty, acted negligently, violated state and federal securities law, committed fraud, and breached contract. The pending complaint alleges damages between $1 million and $5 million.

A third investor complaint, filed in 2023, alleged that he breached his fiduciary duty, committed fraud, acted negligently, and violated New Jersey and Florida securities law as a representative of Stifel Nicolaus. The pending complaint alleges damages between $1 million and $5 million.

Mr. Stone’s LinkedIn profile includes a section describing his background and services as a senior partner at Stifel Nicolaus. “Dave is one of two senior partners of a 9-member wealth management team within Stifel that caters to a diverse clientele of ultra-affluent individuals, families, business owners, pension plans, foundations, endowments, non-profit organizations, and corporations,” it explains. “Dave focuses on providing clients with a comprehensive wealth management experience through strategic planning, an unwavering commitment to objectivity, dedication to simplicity, and high a level of personal service.”

According to the Financial Industry Regulatory Authority, Dave Stone holds 23 years of securities industry experience. Based in New York City and Miami, he has been registered as a broker and an investment advisor with Stifel Nicolaus & Company since 2016. His past registrations include Morgan Stanley, Citigroup Global Markets, Merrill Lynch, and JP Morgan. His credentials include the passage of five securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Futures Managed Funds Examination, or Series 31. He holds 42 state licenses. (Information current as of June 19, 2025.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.