Stifel Nicolaus & Co. Inc. Investment Attorney

The investment lawyers at Gana LLP represent clients who have suffered losses. Our firm is experienced in bringing claims against brokers and brokerage firms, such as Stifel Nicolaus & Co. Inc. (Stifel Nicolaus), to hold the industry responsible for misconduct. Among the claims that our firm has brought on behalf of clients include causes of action such as securities fraud, churning, and unsuitable investments and investment products such as variable annuities, non-traded REITs, and private placements. When a client contacts our firm they can expect that our attorneys will evaluate the potential claim and analyze the trading activity. Our consultations are designed to provide clients with all available options and there merits.

Stifel Financial Corp. is a financial services holding company and listed on the New York Stock Exchange and is headquartered in St. Louis, Missouri. Stifel offers securities financial services in the United States and Europe through several subsidiaries. Stifel has made a number of acquisitions over the years including: 2005 acquisition of Legg Mason Capital Markets business LM Capital Markets from Citigroup Inc; 2006 acquisition of Miller Johnson Steichen Kinnard, Inc.; 2007 acquisition of Ryan Beck & Co. from BankAtlantic Bancorp and acquisition of First Service Financial Company, and its wholly owned subsidiary, FirstService Bank; 2008, the acquisition of Butler Wick & Company, Inc. from United Community Financial Corp.; 2010, the acquisition of Thomas Weisel Partners Group, Inc; 2011, the acquisition of Stone & Youngberg LLC; 2012, the merger with Keefe, Bruyette & Woods

Stifel Nicolaus is affiliated with, under common control, or otherwise performs business under the company names Washington Crossing,Thomas Weisel Partners LLC, Century Securities Associates, Inc., and Stifel Bank & Trust.

Stifel Nicolaus – By the Numbers:

  • CRD# 793
  • SEC# 8-1447
  • 103 Regulatory Events
  • 40 Customer Complaints
  • Revenue: $1.95 billion - 2010
  • Employees: 5,266

Stifel Nicolaus – In the News:

FIRNA v. Stifel, Nicolaus - The Financial Industry Regulatory Authority (FINRA) ordered Stifel, Nicolaus & Company, Incorporated and Century Securities Associates, Inc. to pay combined fines of $550,000 and a total of nearly $475,000 in restitution to 65 customers in connection with allegations that the regulator brought concerning the sales of leveraged and inverse exchange-traded funds (ETFs). FINRA’s Executive Vice President and Chief of Enforcement, said, "The complexity of leveraged and inverse exchange-traded products makes it essential for securities firms and their representatives to understand these products before recommending them to their customers." Leveraged and inverse ETFs "reset" daily and are designed to achieve their stated objectives on a daily basis so their performance can quickly diverge from the performance of the underlying index or benchmark.

FIRNA v. Stifel, Nicolaus – FINRA alleged that from approximately March 2005 to January 2007 Stifel failed to supervise Kenneth Neely, a representative working at the Firm's St. Peters, Missouri branch office. FINRA found that Neely engaged in a Ponzi scheme and induced Stifel customers to participate in a fictitious "St. Louis Investment Club" and to invest in an equally fictitious real estate investment trust, the "St. Charles REIT." FINRA alleged that while Neely was carrying out his fraudulent scheme, Stifel failed to respond adequately to red flags relating to Neely's misconduct that should have alerted it to Neely's conduct. For example, FINRA alleged that Stifel failed to detect or respond to evidence including suspicious customer correspondence and a cashier's check.

Our attorneys has successfully represented hundreds of investors in their broker disputes with their advisor firms. Our consultations are free and we welcome all inquiries.

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