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WC Stewart: Coastal Equities Advisor Has Suitability Complaint
Covington, Kentucky financial advisor WC Stewart (CRD# 2462780) allegedly provided misleading information regarding an investment, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is a broker with Coastal Equities and a representative of WC Stewart & Associates.
Mr. Stewart’s BrokerCheck report discloses one investor complaint. Filed in June 2022, it alleges that as a representative of Coastal Equities, he made unsuitable investment recommendations, made material misrepresentations of facts regarding an investment, and breached his fiduciary duty to place the client’s interests above his own. The pending complaint alleges damages of $50,001.
For reference, the term suitability refers to an investment’s appropriateness for an investor’s specific investment background and objectives. Misrepresentation describes a willfully or negligently false or misleading statement of material facts regarding an investment. FINRA Rule 2111 requires that brokers determine an investment’s suitability before recommending it to an investor.
According to the Financial Industry Regulatory Authority, WC Stewart holds 28 years of securities industry experience. Based in Covington, Kentucky, he has been a broker with Coastal Equities since 2012. His past registrations include Royal Alliance Associates (Covington, Kentucky; 1995-2012), MW Management Company (Euclid, Ohio; 1994-1996), RH York & Company (Covington, Kentucky; 1994-1995), and Garco Equity Sales (Carmel, Indiana; 1994). His credentials include the passage of four 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; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Indiana, Kentucky, and Ohio. (Information current as of September 5, 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.