Scott Robert Steinhorst of Hartland Wisconsin a stockbroker formerly associated with Wintrust Investments LLC has been referenced in a customer initiated investment related complaint in which the customer requested $15,187.72 in damages supported by allegations that the customer had been placed into inappropriate structured certificates of deposit given the long maturities on those products.
This is not the first time that Steinhorst has been the subject of an investor dispute. On November 17, 2016, a customer filed an investment related complaint in reference to Steinhorst’s conduct where the customer sought more than $5,000.00 in damages based upon accusations that bad non-traded real estate investment trust products were sold to the customer by Steinhorst during the period in which he was associated with Wayne Hummer Investments. The complaint alleges that the customer’s financial situation rendered it inappropriate for the customer to invest in the products.
FINRA Public Disclosure reveals that on September 10, 2019, Steinhorst was discharged by Wintrust Investments based upon allegations of his misrepresentations which had been uncovered through an internal probe. The securities broker dealer indicated that Steinhorst violated Investment Advisors Act Section 206 and FINRA Rule 2210.