Steven Wayne Vance of Newtown Pennsylvania a stockbroker currently registered with Boenning Scattergood Inc. is referenced in a customer initiated investment related complaint involving Vance’s activities that was settled on February 27, 2018 for $9,138.67 in damages based upon accusations that (1) the customer’s portfolio was allocated in unsuitable mutual fund investments given the customer’s investment horizon and (2) the customer was charged excessive commissions on mutual fund trades placed in the customer’s account.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Vance is referenced in three more customer initiated investment related disputes pertaining to allegations of his violative conduct during the time that he was associated with RBC Capital Markets, LLC, and J.B. Hanauer Co. Particularly, on July 7, 2003, a customer filed an investment related complaint concerning Vance’s conduct in which the customer requested $5,947.00 in damages founded on accusations that Vance was not provided accurate information concerning foreign bonds purchased for the customer’s account.
Then, on December 4, 2011, a customer filed an investment related complaint regarding Vance’s activities where the customer sought damages estimated to exceed $5,000.00 supported by allegations that closed end fund trades were effected in the customer’s account without the customer having provided consent.
Moreover, a customer initiated investment related complaint involving Vance’s conduct was resolved for $13,000.00 in damages based upon accusations that during the time that Vance worked for RBC Capital Markets, LLC, he misrepresented the surrender charges of an annuity that had been sold to the customer.
Vance has been employed by Boenning & Scattergood Inc. since August 17, 2016.
