Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on January 16, 2017 indicate that former Virginia-based Capitol Securities Management broker/adviser Steve Heath is under FINRA investigation and currently not affiliate with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Heath (CRD# 2812758).
Steve Heath has spent eighteen years in the securities industry and was most recently registered with Capitol Securities Management in Newport News, Virginia (2014-2016). Previous registrations include LPL Financial in Newport News, Virginia; Merrill Lynch in Newport News, Virginia; Wachovia Securities in St. Louis, Missouri; First Union Capital Management in Charlotte, North Carolina; and Wheat First Securities in Charlotte, North Carolina. He is currently not registered with any broker-dealer firm.
According to his BrokerCheck report, Steve Heath has been named in a FINRA investigation and was discharged from two former employers.
In November 2016 Steve Heath was named in a FINRA investigation in connection to “potential violations of NASD Rule 2310 and FINRA Rules 2010 and 2111 (suitability) and NASD Rule 2510 and FINRA Rule 2010 (discretionary trading).” The investigation remains pending.
In 2014 Steve Heath was terminated from LPL Financial following allegations he participated in the “violation of firm policies regarding mutual fund trading and discretionary trading in brokerage accounts.”
In 2014 Steve Heath was terminated from Stratos Wealth Partners following allegations he violated firm policy with respect to mutual fund trading and discretionary trading.
A mutual fund is a variety of investment that combines a collection of stocks, bonds, or other securities. The collection is referred to as a portfolio. Each share of a portfolio represents the investor’s ownership of the fund’s holdings and the income generated by these holdings. Mutual funds typically generate money for investors either by way of dividends on stocks and interests on bonds, or a capital gain on the sale of securities. Mutual funds also allow you to receive a check for the distributions or simply reinvest the earning into more shares. They are often inexpensive and easy to purchase; they also generally allocate risk well, and bring the benefit of professional management. However, they may also come with hidden fees, and trigger a capital gains tax when a fund manager sells a security. Brokers and investment advisers who engage in misconduct related to mutual fund investments may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you or someone you know has a complaint regarding Steve Heath, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.