STEVEN B SCHWARTZ is currently employed as a Broker and/or Investment Adviser at CENTAURUS FINANCIAL, INC. located at 3047 78th AVENUE SE, SUITE #203, MERCER ISLAND, WA, 98040.
STEVEN B SCHWARTZ has worked at CENTAURUS FINANCIAL, INC. since July 07, 2010
Disclosure History
STEVEN B SCHWARTZ has 4 Disclosure Event(s).
Date: June 08, 2011 Category: Customer Dispute Allegations: CUSTOMER ALLEGED THAT THE REPRESENTATIVE'S ADVICE AND DIRECTION REGARDING THE FUNDING OF A NEW VARIABLE ANNUITY ISSUED IN FEBRUARY 2010, LED TO A DETRIMENTAL TAX SITUATION. Damage Amount Requested: $13,000.00 Broker Comment: In June 2011, MetLife amended my Form U5 to disclose a customer complaint against me. A customer apparently complained (I have not seen the complaint) that my advice regarding funding a new variable annuity purchased in February 2010 led to a detrimental tax situation for him. The customer had advised me that he wanted to rollover an IRA to MetLife and to purchase any annuity in that account. The customer handled the rollover himself, and then I assisted in his purchasing the new IRA annuity with a Lifetime income rider. The customer apparently complained that the funds put into the MetLife IRA were Non-Qualified funds and, as a result, he suffered approximately $13,000 in tax consequences. To my knowledge, MetLife denied the complaint, finding it to be without merit.As a professional both in Dentistry (my former profession) and now in Financial Planning, I have never been sued or had a complaint, other than from this one customer. My philosophy is that the Patients and the Clients always come first. I practice as a Dr.: Do no Harm!
Date: May 06, 2010 Category: Employment Separation After Allegations Firm Name: METLIFE SECURITIES Termination Type: Discharged Allegations: REGISTERED REPRESENTATIVE DID NOT FOLLOW COMPANY POLICY WHEN HE MAINTAINED PASSWORDS AND PERSONAL IDENTIFICATION INFORMATION FOR CUSTOMER ACCOUNTS Broker Comment: MetLife terminated me for allegedly not following company policy in that I maintained passwords and personal identification information for certain customer 401K accounts that were held away from MetLife. This data was maintained in MetLife's secure database and was kept so that, in connection with the financial advice I provided these customers, I could review these accounts on line while on the phone with the customer, to expedite the review of the account and to determine whether it needed rebalancing. FINRA conducted an initial inquiry into the termination and their inquiry was closed without any formal disciplinary action or sanctions being taken against me.
Date: September 01, 1998 Category: Judgment / Lien Judgment/Lien Amount: $16,259.00 Judgment/Lien Type: Civil Broker Comment: I PURCHASED A BRAND NEW BOAT. HAD THE ANCHOR FALL OFF WHILE RUNNING AND THEN HAD A BILGE FIRE WHILE WE WERE IN THE GULF OF MEXICO. I WAS CONCERNED THE BOAT WAS NOT SAFE FOR MY FAMILY. I SENT THE BOAT BACK TO THE SELLER, AND THEY SOLD IT, BUT THAT CREATED A SHORTFALL AFTER SALE OF THE 16K. THE LOAN WAS ORIGINALLY THROUGH SOUTHWEST. THEY WERE SOLD TO WELLS FARGO. I CALLED WELLS FARGO MANY TIMES, BUT THEY ADVISE THAT THEY HAVE NO RECORD OF THE DEFAULT IN THEIR SYSTEMS. I CANNOT MAKE THEM WHOLE AS THERE IS NO DEBT NOTED IN THEIR SYSTEMS FOR ME TO MAKE A PAYMENT UPON. THE JUDGMENT MAY NO LONGER BE VALID DUE TO THE PASSAGE OF TIME.
Date: November 13, 1997 Category: Judgment / Lien Judgment/Lien Amount: $1,825.00 Judgment/Lien Type: Civil Broker Comment: MY FIRST BOAT SANK FROM RAINY WEATHER BEFORE WE BUILT A DOCK. THE PERSON WHO HELPED TRIED TO OVERCHARGE US AFTER THE FACT. HE FILED SUIT IN SMALL CLAIMS COURT AND WON A JUDGEMENT. WHEN THE OUTSTANDING JUDGMENT CAME TO LIGHT, I HIRED AN ATTORNEY AND HE HAD A SKIP TRACE SEARCH PERFORMED, BUT WE HAVE NOT BEEN ABLE TO LOCATE THE JUDGMENT HOLDER. THE JUDGMENT MAY NO LONGER BE VALID DUE TO THE PASSAGE OF TIME.
More Information
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
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