| Read Time: 2 minutes | Edward Jones Complaints |


Steve Soma Of Edward Jones Has 3 Customer Complaints For Alleged Broker Misconduct

Who is Steve Soma of Edward Jones?

Steve Soma (CRD #1754268) who is currently registered with Edward Jones and located in Madison, Wisconsin is a subject of one of our many securities industry sales practice abuse investigations.

Steve Soma Customer Complaints

Steve Soma has been the subject of 3 customer complaints that we know about. Two of Steve Soma’s 3 customer complaints were settled in favor of investors. One of Steve Soma’s customers’ complaints was denied and, to date, the customer has not taken any further action.

Allegations Against Steve Soma

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • The client stated when she visited with the Steve Soma informing him she may need to pull some income from her investments due to medical issues.  Client stated she was sent information on advisory solutions. She stated she was informed by Steve Soma that she could earn $1, 100 in income, the client approved. However, the client did not realize the risks involved in advisory solutions. She indicated when she visited with the Steve Soma she was not well.  Client stated she lost over $9, 000 due to the change in investments. The client would like to be reimbursed the amount she lost due to the investment in advisory solutions.
  • Client alleged that transactions in his Advisory Solutions account made by Steve Soma was not suitable.
  • Client claimed Steve Soma allegedly took two requests from her husband to remove funds from her daughters’ custodial account. Client stated she was the owner of the custodial account. Client stated the first transaction at which time her husband requested $15,000.00 from the account. Client stated the second transaction, at which time $1,594.91 was removed, leaving a zero balance. The client claimed she spoke with the Steve Soma who stated he took the requests from her husband on good faith, not knowing they were in the middle of a divorce. Client wanted the funds restored to her daughters’ account and wanted any future requests to either of her daughters’ custodial accounts handled by signed written request from her.

Steve Soma Red Flags & Your Rights As An Investor

Of course, Steve Soma did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Steve Soma at Edward Jones on alert to review carefully the activity and performance of their accounts and question whether Steve Soma has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Edward Jones also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Edward Jones Due To Steve Soma

If you have questions about Edward Jones and/or Steve Soma and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

Author Photo

Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

Rate this Post

1 Star2 Stars3 Stars4 Stars5 Stars