As a financial analyst and writer, I’ve seen my share of legal disputes in the industry, but the case involving Steven Milcinovic of Arbor Court Capital certainly stands out. Milcinovic has been hit with serious claims following the discovery of a civil lawsuit on his BrokerCheck record, dated February 16, 2024.
Disturbing Claims Against a Professional
My analysis of the lawsuit filed by Mosaic Financial LTC and Accuvest Global Advisors exposes a troubling absence of integrity. These firms filed their claim on October 20, 2023, accusing Milcinovic of carelessly misstating details about a private investment, an act that supposedly played a part in a scam targeting investors via a mutual fund transfer agent.
Such accusations, if proven true, indicate clear breaches of the Financial Industry Regulatory Authority’s (FINRA) rules. FINRA Rule 2020 explicitly prohibits the misrepresentation or withholding of important facts.
The Impact on Investors
All investors are entitled to full disclosure about the risks and costs associated with their investments under FINRA Rule 2020. Milcinovic is alleged to have presented investment opportunities under misleading pretenses, a move that could seriously harm investors’ portfolios.
The nightmare of discovering that the promised healthy returns on an investment were nothing but a fabric of lies is one many hope to never experience. If these claims hold any weight, Milcinovic would have not only misled investors but also breached FINRA Rule 2010 by neglecting to adhere to principles of fairness and honesty that are the bedrock of the trading world.
Protecting Investor Interests
If Steven Milcinovic managed your investments and you’re worried about their legitimacy, it’s essential to speak up. Acting swiftly is critical. I recommend seeking advice from a seasoned securities lawyer for guidance on filing a complaint.
Securities attorneys have a long history, spanning over 20 years, of aiding investors to recover losses caused by brokers and their firms. The good news is many reputable legal teams won’t charge you unless they win your case and recover your funds.
Warren Buffet once said, “Risk comes from not knowing what you’re doing.” In the realm of personal finance, being informed is your best defense. Don’t turn a blind eye to possible fraud. Act now, and begin the process of reclaiming your financial security.
To further ensure your security when choosing a financial advisor, always check their FINRA BrokerCheck record for any past infractions. A staggering fact uncovered is that bad financial advisors are not rare; approximately 7% have been disciplined for misconduct at some point in their career. Always validate their legitimacy through their FINRA CRM number to gain confidence in your investments.
