Steven Fonda: Terminated From Waddell & Reed

Steven Fonda

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on March 22, 2017 indicate that former Nevada-based Waddell & Reed broker/adviser Steven Fonda has been named in a pending customer complaint and was recently discharged from his former employer. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Fonda (CRD# 2198086).

Steven Fonda has spent 22 years in the securities industry and was most recently registered with Waddell & Reed in Reno, Nevada (2009-2017). Previous registrations include Citigroup Global Markets in Reno, Nevada; Merrill Lynch in New York, New York; BA Investment Services in Oakland, California; GNA Securities in Richmond, Virginia; PFS Investments in Duluth, Georgia; Financial Network Investment Corporation in El Segundo, California; American Express Financial Advisors in Minneapolis, Minnesota; and IDS Life Insurance Company in Minneapolis, Minnesota. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received one pending customer complaint and was discharged from his former employer.

In January 2017 Steven Fonda was terminated from his position at Waddell & Reed “for violation of firm policies including the unauthorized use of discretion in client accounts and attempting to settle a client complaint without written approval from the Firm.”

In 2015 a customer alleged Steven Fonda, while employed at Waddell & Reed, invested the account in unsuitable products without the customer’s knowledge. The customer is seeking $200,000 in damages in the pending complaint.

If you have lost money investing with Steven Fonda, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.