Charles Thomas Stevens of Saint Augustine Florida a stockbroker formerly registered with DH Hill Securities LLLP is referenced in a customer initiated investment related arbitration claim which was resolved for $35,000.00 in damages supported by allegations that negligence and the breach of an investment agreement resulted in the customer’s losses on alternative investments sold by Stevens at DH Hill Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02154 (Mar. 18, 2020).
According to the claim, a fiduciary duty that was owed to the customer had been breached by the stockbroker regarding business development companies and real estate investment trusts as well as annuities. The customer was allegedly provided with bad investment advice regarding alternative investments.
Stevens has been identified in four additional customer initiated investment related disputes containing accusations of his wrongdoing while employed by NYLife Securities and DH Hills Securities. FINRA Public Disclosure confirms that a customer filed an investment related complaint concerning Stevens’s conduct where the customer sought $50,000.00 in damages based upon allegations that facts relating to annuity products had been concealed from the customer when the customer’s purchase was initiated.
Another customer filed an investment related complaint regarding Stevens’s conduct in which the customer requested $24,000.00 in damages founded on accusations that when Stevens was associated with NYLife Securities, life insurance policies had been falsely described as liquid. The complaint also alleges that the customer was told that premiums would be covered by the customer’s initial contributions.
Stevens is also the subject of a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages supported by allegations that the customer had been sold real estate investment trusts in 2016 that failed to be suitable for the customer. FINRA Arbitration No. 19-01824 (July 1, 2019). According to the claim, a contract between the customer and the securities broker dealer had been breached and the stockbroker’s negligence caused the customer’s losses. The claim also alleges that a fiduciary duty had been breached and that the customer had been defrauded.
On February 17, 2020, another customer initiated investment related arbitration claim involving Stevens’s actions was settled for $30,000.00 in damages based upon accusations of negligence and the breach of a fiduciary duty and contract pertaining to BDCs and REITs sold by the stockbroker at DH Hill Securities. FINRA Arbitration No. 17-03348. The claim also alleges supervisory failures and unsuitable advice which led the customer to experience unwarranted losses.
Stevens’s registration with DH Hill Securities was terminated on February 5, 2020.
