Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on July 25, 2017 indicate that Michigan-based Oppenheimer & Company broker Stephen Beresh has been named in a pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Beresh (CRD# 2042127).
Stephen Beresh has spent 27 years in the securities industry and has been registered with Oppenheimer & Company in Sterling Heights, Michigan since 1999. Previous registrations include First of Michigan Corporation in Detroit, Michigan (1997-1999); Smith Barney Incorporated in New York, New York (1993-1997); and Lehman Brothers in New York, New York (1990-1993). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 63 (Uniform Securities Agent State Law Examination); Series 3 (National Commodity Futures Examination); and Series 7 (General Securities Representative Examination). He is a registered broker with twelve US states: Alabama, Arizona, the District of Columbia, Georgia, Michigan, Minnesota, Mississippi, New Mexico, Ohio, South Carolina, Virginia and Wisconsin.
According to his BrokerCheck report, Stephen Beresh has received one pending customer complaint.
In May 2017 a customer alleged Stephen Beresh, while employed at Oppenheimer & Company, made unsuitable investment recommendations “regarding trades in exchange traded funds and closed end funds and high risk equities in gold and energy” securities. The customer is seeking $176,000 in damages in the pending complaint.
Exchange traded funds (ETFs) contain a portfolio of shares that track market indices such as the Dow Jones or the S&P 500, or that track only a certain market segment, such as energy or pharmaceutical companies. If one of those particular indices is performing well, the corresponding ETF will mirror that trend. It will also parallel a downward trend, unfortunately, and significant losses may result. Investment professionals who recommend unsuitable ETFs may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has complaints regarding Stephen Beresh, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.