Steven Nelson Schrader of Livonia Michigan a stockbroker currently registered with LPL Financial LLC is the subject of a customer initiated investment related written complaint on June 6, 2018 where the customer requested $28,857.00 in damages founded on allegations that the customer’s instructions of transferring stock were not followed causing the customer to incur additional expenses and undue tax liability.

The customer paid these taxes because they had a profit, and at no time did Schrader ever volunteer to run for political office to  reform the nation’s federal tax laws.  Either the customer was planning on dying, and needed to pass the subject investments at a cost basis, based on the market value at the time of the investor’s death, or the investor was hoping the securities would decrease in value, in which case, they would not owe any tax.

As a general matter, unless the broker makes misrepresentations concerning taxability, it does not sound like much of a case.

Additionally, the broker has had no complaints for almost twenty years.

Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on October 31, 2002, a customer filed an investment related complaint involving Schrader’s activities in which the customer sought $21,000.00 in damages based upon accusations that mutual fund transactions were executed in the customer’s account that the customer never authorized.

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Guiliano Law Group

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

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