Steve Liddell: UBS Advisor Receives $100K-$500K Options Complaint

Plano, Texas financial advisor Steve Liddell (CRD# 1509609) recently received an investor complaint alleging that an options overlay strategy was unsuitable. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with UBS Financial Services, whose website describes him as a member of the Liddell Wealth Management Group.

Mr. Liddell’s BrokerCheck report discloses one investor complaint. Filed in August 2023, the complaint alleges “unsuitability and misrepresentation” in connection with a recommendation to invest in and hold an options overlay strategy. The pending investor complaint alleges damages between $100,000 and $500,000.

In a statement included with the complaint’s disclosure, Mr. Liddell pushed back against the allegations. “This client complaint was lodged against my employer UBS, not against me and concerned a proprietary options strategy sold through marketing material and disclosures prepared by the firm,” he wrote, adding that he was not a named party in the matter. “ I believe I acted appropriately and in the best interests of this client, as I do with all my clients. Also of importance to note is that the client remains a client of mine.” He concluded by denying “any wrongdoing or liability” on his own part..

UBS Financial Services’ website describes Mr. Liddell as a Senior Vice President in Liddell Wealth Management Group. “Our team is committed to achieving the financial goals of our clients by understanding their needs, offering quality investment advice, and providing unparalleled services,” the private practice’s “About” page states, with Mr. Liddell’s profile describing his own approach to wealth management. “Steve focuses on assisting affluent individuals, small businesses and pension funds in developing investment policy statements, conducting due diligence review meetings, selecting independent money managers, and reviewing portfolio performance,” it explains. “This process starts with identifying your risk tolerance, time horizon, as well as your return and income expectations.”

According to the Financial Industry Regulatory Authority, Steve Liddell holds 37 years of securities industry experience. Based in Plano, Texas, he has been a broker and an investment advisor with UBS Financial Services since 2008. His past registrations include Morgan Stanley & Company, Morgan Stanley, and Morgan Stanley DW in Dallas, Texas. His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 28 state licenses. (Information current as of September 4, 2023.)

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