Steven Goethel: Misrepresentation Complaint Against Merrill Advisor

Jupiter, Florida financial advisor Steven Goethel (CRD# 5861475) allegedly made material misrepresentations about investments he recommended, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Merrill Lynch.

Mr. Goethel’s BrokerCheck report discloses one investor complaint. Filed in April 2026, it alleges that as a representative of Merrill Lynch, he misrepresented alternative investments, provided inadequate disclosure regarding the investments, and engaged in “trading activity” that “resulted in unexpected consequences.” The pending complaint alleges unspecified damages.

Investors should be aware that FINRA rules prohibit brokers from providing misleading information regarding the products they recommend, an act commonly referred to as “misrepresentation.” FINRA Rule 2020 specifically stipulates that brokers may not “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Brokers who make misrepresentations regarding their investment recommendations may cause their clients to purchase unsuitable products, in violation of FINRA Rule 2111. Representatives who misrepresent and/or recommend unsuitable investments may be held liable for damages in the event of losses.

According to the Financial Industry Regulatory Authority, Steven Goethel holds 15 years of securities industry experience. Based in Jupiter, Florida, he has been registered as a broker and an investment advisor with Merrill Lynch since 2011 and 2011, respectively. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; the Futures Managed Funds Examination, or Series 31; and the General Securities Representative Examination, or Series 7. He holds 30 state licenses. (Information current as of May 10, 2026.)

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.