INVESTORS: Former Center Street Securities broker Seth Barnes Stewart was named in customer disputes alleging unsuitable investment recommendations.
Seth Barnes Stewart (CRD#: 5467292) was registered as a broker with Center Street Securities from 2012 until 2020. Previously, Stewart was registered as a broker with American Equity Investment Corporation from 2009 until 2012.
Stewart has four disclosures on his BrokerCheck report.
June 2022 Customer Dispute
Allegations: Client alleges unsuitable investment
Damage Amount Requested: $99,999.00
Broker Comment: At the time of purchase, the client had a good understanding of the illiquid nature related to this segment of their portfolio. The client understood and signed all disclosure forms confirming their understanding of the illiquid nature. Furthermore, in June of 2021, we recommended the early redemption of the illiquid investment in question. The client declined stating that they would prefer to hold until maturity.
January 2022 Customer Dispute
Allegations: Unsuitable, illiquid, high risk
Damage Amount Requested: $400,000.00
February 2020 Customer Dispute
Damage Amount Requested: $200,000.00
December 2019 Customer Dispute
Allegations: did not know investments were illiquid
Damage Amount Requested: $100,000.00
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