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Did PHX’s Steros Christoforou Recommend Unsuitable Investment?

An investor complaint against Fort Lauderdale financial advisor Steros Christoforou (CRD# 4407397) alleges that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is currently registered as a broker with PHX Financial.

Mr. Christoforou’s BrokerCheck report discloses one investor complaint. Filed in April 2023, it alleges that as a representative of PHX Financial, he made unsuitable investment recommendations involving a non-public traded equity. The pending complaint alleges damages of $100,000.

More information about FINRA Rule 2111, which stipulates that brokers must “have a reasonable basis to believe that a recommended transaction or investment strategy” is suitable for the customer they’re recommending it to, is available here. Investors should be aware that financial advisors who provide unsuitable investment recommendations may be liable in the event of losses.

According to the Financial Industry Regulatory Authority, Steros Christoforou holds 20 years of securities industry experience. Based in Fort Lauderdale, Florida, he has been a broker with PHX Financial since 2012. His past registrations include Legend Securities (New York, New York; 2012), Bradley Woods & Company (New York, New York; 2011-2012), Obsidian Financial Group (2011), First Merger Capital (2010-2011), VFinance Investments (Miami, Florida; 2009-2010), Global Arena Capital Corporation (2008-2009), Clark Dodge & Company (2006-2008), Gunnallen Financial (2003-2006), and Great Eastern Securities (2002-2003). 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 Investment Banking Registered Representative Examination, or Series 79TO; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, Arkansas, California, Colorado, Connecticut, Florida, Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Missouri, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Utah, and Virginia. (Information current as of June 24, 2023.)

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.

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