Ed Villanyi: $100K Complaint Against Stifel Advisor

Indianapolis, Indiana financial advisor Ed Villanyi (CRD# 2348401) recently received an investor complaint alleging that his conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Stifel Nicolaus & Company, having previously been registered with Merrill Lynch.

Mr. Villanyi’s BrokerCheck report discloses one investor complaint. Filed in August 2025, it alleges that as a representative of Stifel Nicolaus & Company, he liquidated an investment without the customer’s authorization and invested in mutual funds. The pending complaint alleges damages of at least $100,000.

Investors should be aware that FINRA rules, as well as other securities industry regulations, prohibit representatives like Mr. Villanyi from effecting securities transactions without the permission or authorization of their customers. FINRA Rule 3260, for instance, outlines specific conditions under which brokers can make discretionary trades—that is, the execution of transactions without prior consultation with the customer. As FINRA explains in its investor resources, discretion “generally means the broker can decide at any time how much of a stock, bond or other security to buy or sell, and at what price, without customer input.” Rule 3260 prohibits brokers from exercising discretionary authority without the customer’s prior written authorization and the firm’s acceptance of the account, in writing, as discretionary. The firm’s acceptance must be “evidenced in writing by the member or the partner, officer or manager, duly designated by the member.” FINRA Rule 2010, meanwhile, stipulates that FINRA-associated persons must “observe high standards of commercial honor and just and equitable principles of trade,” which generally means that they may not execute unauthorized trades. Representatives who make transactions without proper authorization, or against a firm’s rules governing discretionary trading, may be held liable for damages or even subject to disciplinary action by FINRA and/or the Securities and Exchange Commission.

According to the Financial Industry Regulatory Authority, Ed Villanyi holds 32 years of securities industry experience. Based in Indianapolis, Indiana, he has been registered as a broker and an investment advisor with Stifel Nicolaus & Company since 2022. His past registrations include Merrill Lynch, Wells Fargo Advisors, and Prudential Securities. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the National Commodity Futures Examination, or Series 3; and the General Securities Representative Examination, or Series 7. He holds 28 state licenses. (Information current as of November 23, 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.