DID SCOTT DOUGLAS PHILLIPS CAUSE YOU INVESTMENT LOSSES?
Scott Phillips Of Centaurus Financial, Inc. Has 4 Customer Complaints For Alleged Broker Misconduct
About Scott Phillips of Centaurus Financial, Inc.?
Scott Phillips (CRD #1311907) has a comprehensive career in the financial industry, primarily affiliated with Centaurus Financial, Inc. in Salt Lake City, Utah, since January 2007. He is registered with 12 U.S. states and territories and has passed one principal/supervisory exam (Series 24), two general industry/product exams (SIE, Series 7), and one multi-state securities law exam (Series 63). His professional trajectory includes previous stints with Stuart Securities Corp. and ING Financial Partners, among others, reflecting a diverse and extensive background in financial services.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Scott Phillips Customer Complaints and Reviews
Phillips has several disclosures on his record:
- Regulatory Event (1 Final): A final regulatory action from March 6, 1998, involved a failure to pay a renewal fee, leading to the summary revocation of his investment adviser certificate.
- Customer Disputes (4):
- Settled: One dispute settled for $62,500 where it was alleged that variable annuity contracts and LLCs formed by Phillips were unsuitable.
- Pending: Three pending disputes involving allegations of recommending unsuitable high-risk investments in 2019 and 2020 with claimed damages totaling $288,300.
- Termination (1): Discharged from Lincoln Financial Advisors on September 28, 1999, due to failure to notify in advance of outside business activity with LLC companies.
Allegations Against Scott Phillips
- Regulatory Actions:
- Revocation of his investment adviser certificate due to non-payment of a renewal fee.
- Customer Disputes:
- Allegations of unsuitable investment recommendations involving variable annuities and LLCs.
- Claims that Phillips breached his fiduciary duty by recommending high-risk investments.
- Termination:
- Allegations related to improper notification regarding outside business activities, specifically concerning LLC companies.
Scott Phillips Red Flags & Your Rights As An Investor
Of course, Scott Phillips 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 Scott Phillips at Centaurus Financial, Inc. on alert to review carefully the activity and performance of their accounts and question whether Scott Phillips has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Centaurus Financial, Inc. also raises questions about the brokerage firms’ 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 Centaurus Financial, Inc. Due To Scott Phillips
If you have questions about Centaurus Financial, Inc. and/or Scott Phillips 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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