DID STEPHEN ROBERT WALSH II CAUSE YOU INVESTMENT LOSSES?
About Stephen Walsh II of Creative Planning?
Stephen Walsh II (CRD #1856275) , located in Pittsburgh, Pennsylvania, has a long history in the financial services industry, spanning over three decades. His roles include positions at major firms such as TD Ameritrade, Oppenheimer & Co., and PNC Investments. Walsh has passed multiple supervisory and securities industry exams, showcasing his proficiency in financial and investment advisory services.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Stephen Walsh II Customer Complaints and Reviews
Stephen Walsh II has one customer dispute disclosed in his record.
- Details of the Dispute:
- Date: Complaint received on September 2, 2008; resolved on September 17, 2008.
- Allegations: The client alleged misrepresentation regarding the safety and liquidity of auction-rate securities, citing damages of $125,000. The securities were originally purchased in 2003 and 2006.
- Outcome: The complaint was denied, and no settlement or financial contribution was made by Mr. Walsh or the firm. The complaint stemmed from market-wide liquidity issues in the ARS market during the 2008 financial crisis, which were unrelated to Mr. Walsh’s specific actions.
Allegations Against Stephen Walsh II
The disclosure against Stephen Walsh II involves claims of misrepresentation related to auction-rate securities during the 2008 financial crisis.
- Key Points of the Dispute:
- The allegations were linked to market-wide liquidity issues that led to auction failures, not specific advice or conduct by Mr. Walsh.
- The complaint was denied without any findings of wrongdoing or financial liability for Mr. Walsh or his employment firm.
- This situation highlights the challenges financial advisors face during market disruptions and underscores the importance of clear communication about investment risks.
Stephen Walsh II Employment History
- Firms Worked For:
- Creative Planning (2017–Present), Investment Advisor Representative
- PNC Investments (2013–2017)
- Oppenheimer & Co. (2012–2013)
- TD Ameritrade (2004–2012)
- Additional roles at Charles Schwab, Dean Witter Reynolds, and others.
- Exams Passed:
- Principal/Supervisory Exams: Series 24, Series 10, and Series 9
- General Industry/Product Exams: Series 7, Series 31, and Securities Industry Essentials (SIE)
- State Securities Law Exams: Series 63 and Series 66
- Designations: No professional designations reported.
- Employment History Highlights:
- Previous roles in management and advisory positions across multiple well-known firms.
- Registrations: Mr. Walsh is not currently registered as a broker but remains active as an investment advisor.
Investment Advisors Owe Clients The Highest Level Of Care
Investment advisors are held to fiduciary standards, which obligate them to prioritize their clients’ interests. This includes full disclosure of fees, risks, and potential conflicts of interest while providing personalized, suitable investment recommendations. Advisors must thoroughly evaluate a client’s financial goals, risk tolerance, and overall circumstances to act prudently and ethically. Maintaining transparency and adhering to fiduciary duties fosters trust and ensures regulatory compliance.
Option Trading Can Be Extremely Risky
Options trading can be highly speculative and carries substantial risks, particularly when employing advanced strategies. For instance, selling uncovered (naked) options exposes investors to significant potential losses if the market moves against their position.
Example of a High-Risk Strategy:
- A naked call writing strategy involves selling call options without owning the underlying asset. If the market price of the asset rises significantly, the seller may face unlimited losses. Advisors must ensure clients fully understand these risks and confirm that such strategies align with their financial objectives and risk tolerance.
Stephen Walsh II Red Flags & Your Rights As An Investor
Of course, Stephen Walsh II 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 Creative Planning on alert to review carefully the activity and performance of their accounts and question whether Stephen Walsh II has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Creative Planning 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 Creative Planning Due To Stephen Walsh II
If you have questions about about Creative Planning and/or Stephen Walsh II 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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