Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on April 4, 2017 indicate that former Illinois-based William Blair & Company broker/adviser Scott Stacke has been the subject of a customer dispute and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Stacke (CRD# 1666312).
Scott Stacke has spent nineteen years in the securities industry and was most registered with William Blair & Company in Chicago, Illinois (1997-2017). He has no previous registrations. He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 63 (Uniform Securities Agent State Law Examination); and Series 7 (General Securities Representative Examination).
According to his BrokerCheck report, Scott Stacke has been the subject of one customer complaint.
In 2015 a customer alleged Scott Stacke, while employed at William Blair & Company, churned investments, made unsuitable investment recommendations, and breached his fiduciary duty. The complaint settled for $200,000.
Churning, or excessive trading, denotes the excessive execution of transactions in a client account for the primary purpose of generating commissions. In churning cases, a broker does not buy, sell, or trade securities in order to advance a client’s investment goals. Instead, large volumes of transactions are made in order to increase fees and charges. Account churning generally arises in situations where a broker has the control over making investment transactions on a client’s account. Situations where this can occur usually involve discretionary or managed funds, or some margin funds. Brokers who engage in excessive trading may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have complaints regarding Scott Stacke, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover 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.