Steven Harvey Serot of Saint Louis Missouri a former Lincoln Financial Advisors Corporation registered representative is referenced in a customer initiated investment related written complaint on March 30, 2017 where the customer sought more than $5,000.00 in damages supported by allegations that the customer’s funds had been misappropriated from the customer’s variable annuity.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Serot is referenced in two more customer initiated investment related disputes pertaining to accusations of Serot’s violative conduct during the time that he was associated with Lincoln Financial Advisors. Particularly, on October 27, 2011, a customer filed an investment related complaint concerning Serot’s activities in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that Serot misguided the customer into purchasing insurance policies by claiming that they would be able to be sold for considerable returns on the secondary market; the investments were apparently unable to be sold as Serot had claimed.
Subsequently, a customer filed an investment related civil action involving Serot’s conduct where the customer alleged that Serot misappropriated assets owned by the trust while Serot served in the capacity of trustee. Civil Action No. 2017-CA-001338-NC; 2017-CA-001339-NC; 2017-CA-001342-NC (Mar. 17, 2017).
Serot’s registration with Lincoln Financial Advisors Corporation was terminated on October 12, 2017.
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