Stifel, Nicolaus Discharged Financial Advisor James Cvetkovic

• May 31, 2023
• Stifel Nicolaus & Company

James Cvetkovic (CRD#: 5387856) is a previously registered Broker and previously registered Investment Adviser.

Broker’s Background

He entered the securities industry in 2007 and previously worked for Stifel, Nicolaus & Company, Inc.; and Butler, Wick & Co., Inc.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in February 2023, James Cvetkovic, was discharged by Stifel, Nicolaus & Co., Inc. The allegation states, “Registered representative utilized a customer’s personal identifying information to register and enroll the customer on a 3rd party annuity provider’s website, without the customer’s knowledge or authorization.”

James Cvetkovic has no additional disciplinary actions on file with FINRA.

For a copy of James Cvetkovic’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.

Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation. Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

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