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Steve Hayden: $346K Complaint Against Atlanta Planning Group Advisor
Atlanta financial advisor Steve Hayden (CRD# 4620943) recently received an investor complaint alleging his investment advice led to more than $300,000 in damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Cetera Advisors, doing business as Atlanta Planning Group.
Mr. Hayden’s BrokerCheck report discloses one investor complaint. Filed in July 2022, it alleges that as a representative of Investors Capital Corporation, he recommended unsuitable alternative investments involving real estate securities. The pending complaint alleges damages of $346,000.
FINRA’s suitability standard is outlined in Rule 2111, which stipulates that brokers like Steve Hayden must “have a reasonable basis to believe a recommended transaction or investment strategy involving a security or securities is suitable for the customer.” They arrive at this basis by conducting “reasonable diligence” into the customer’s “investment profile,” which includes factors like their financial situation, age, investment experience and objectives, and risk tolerance. Brokers who do not have a “firm understanding” of their customer and the products they’re recommending are considered to have violated Rule 2111, and may be liable in the event of losses.
According to the Financial Industry Regulatory Authority, Steve Hayden holds 19 years of securities industry experience. Based in Atlanta, Georgia, he has been a broker and an investment advisor with Cetera Advisors since 2016, doing business as Atlanta Planning Group. His past registrations include Investors Capital Corporation in Atlanta, Georgia (2004-2016) and Dempsey Financial Network in Atlanta, Georgia (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 Uniform Securities Agent State Law Examination, or Series 63; the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Georgia and Texas. (Information current as of August 24, 2022.)
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.