DID STEVEN HOWARD ORR CAUSE YOU INVESTMENT LOSSES?
Steven Orr Of Grove Point Investments, LLC Has 2 Customer Complaints For Alleged Broker Misconduct
Steven Orr (CRD #1583467) Located in Rockville, MD is a securities broker and investment adviser currently registered with Grove Point Advisors, LLC as an investment adviser and Grove Point Investments, LLC as a registered broker since 2021 and 2011, respectively. He is licensed in 17 U.S. states and one self-regulatory organization (FINRA). Orr has passed four industry examinations, including the General Securities Representative Exam (Series 7) and the Uniform Securities Agent State Law Exam (Series 63). Throughout his career, Orr has worked for several firms, including H. Beck, Inc., Orr Financial Group, and DeWaay Financial Network, LLC. Orr’s career spans decades with a focus on financial advising and client education.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Steven Orr Customer Complaints and Reviews
His disclosure shows two customer disputes:
- Customer Dispute 1 (2021)
- Complaint: Misrepresentation of risks and unsuitable recommendations regarding BDCs and REITs between April and May 2013.
- Firm Involved: H. Beck, Inc.
- Alleged Damages: $38,000
- Outcome: Settled for $7,500 without Orr’s direct contribution or admission of wrongdoing.
- Customer Dispute 2 (2023):
- Complaint: Nine claimants allege unsuitability, overconcentration, breach of fiduciary duty, and negligence involving investments in NorthStar Healthcare Income REIT between 2014 and 2016.
- Firm Involved: Grove Point Investments, LLC
- Alleged Damages: $300,000, with individual investments including $50,000.
- Outcome: Pending under FINRA Case #23-03421.
Allegations Against Steven Orr
These disclosures reflect allegations concerning investment suitability and risk communication.
- Complaint 2021: The client alleged risks were misrepresented and that investments in REITs and BDCs were unsuitable. Orr denied the allegations, and the case was settled without admission of wrongdoing.
- Complaint 2023: Multiple claimants have accused Orr of unsuitable and negligent investment advice related to NorthStar Healthcare Income REITs. The case remains unresolved under FINRA arbitration, with damages claimed at $300,000.
Steven Orr Red Flags & Your Rights As An Investor
Of course, Steven Orr did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Steven Orr at Grove Point Investments, LLC on alert to review carefully the activity and performance of their accounts and question whether Steven Orr has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Grove Point Investments, LLC also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Grove Point Investments, LLC Due To Steven Orr
If you have questions about Grove Point Investments, LLC and/or Steven Orr and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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