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Samuel Sutterfield: Elevate Wealth Advisor Denies $100K Bond Complaint
Centaurus Financial advisor Samuel Sutterfield (CRD# 5988560) is involved in an investor complaint alleging $100,000 damages stemming from investments in corporate bonds and real estate. Publicly available records filed with a US bankruptcy court in Texas, meanwhile, list at least one current or former client of his as creditor for an investment in a GWG L bond. Financial Industry Regulatory Authority records show that he is currently based in Tucson, Arizona, doing business as Elevate Wealth Management.
Mr. Sutterfield’s BrokerCheck report discloses one investor complaint. Filed in May 2022, it alleges that as a representative of Centaurus Financial, he “recommended illiquid investments” in corporate bond and real estate products. The pending complaint alleges damages of $100,000.
In a statement included with the pending complaint’s disclosure, Mr. Sutterfield defended himself against the claim. “I vehemently deny any wrongdoing and assert that the allegations are completely without merit,” he wrote in part, stating further: “The investment about which the customers complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after their review of all material documentation related to the investment.” He concluded the statement by asserting that he placed the customer’s interests first and that he intends to “vigorously defend this matter to the fullest extent of the law.”
Additional information about GWG Holdings, which reportedly raised $1.6 billion from investors in its L bond products, filed for Chapter 11 bankruptcy, and was investigated by the SEC, is available via this resource.
According to the Financial Industry Regulatory Authority, Samuel Sutterfield holds eleven years of securities industry experience. Based in Tucson, Arizona, he has been a broker and an investment advisor with Centaurus Financial since 2018, doing business as Elevate Wealth Management. He was previously registered with Wells Fargo Clearing Services in Tucson from 2011 until 2018. His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; 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 Combined State Law Examination, or Series 66. He is licensed in Arizona, California, Colorado, Massachusetts, Minnesota, Nevada, New Mexico, New York, North Carolina, and South Carolina. (Information current as of June 2, 2023.)
Carlson Law has represented at least nine investors in claims against their financial advisors for investments in GWG Holdings Inc. 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.